April 16, 2020
Landscaper Secures SBA 504 Loan for Expansion
CDC New England SBA 504 Borrower:
Babin Landscaping, Pepperell, MA
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Babin Landscaping of Pepperell, MA Secures SBA 504 Loan for Expansion
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CDC New England provided Babin Landscaping with an SBA 504 loan to acquire real estate and equipment for a relocation of the business.
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Babin Landscaping is a family owned and operated business specializing in residential landscaping, serving greater Massachusetts and Southern New Hampshire. The services provided include property maintenance, ornamental pool and perennial flower garden design and installation, irrigation installations, and services along with turf care and landscape construction services. During the winter months, they provide both residential and commercial snow and ice management.
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David Babin started the business over 40 years ago shortly after graduating high school, and now has the involvement of several family members, including his wife, two sons, and daughter-in-law.
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The business operated out of Mr. Babin’s home but the SBA 504 financing allowed the move to a commercially zoned location with more space and better exposure, and only a mile away. The project included the purchase of a building formerly occupied by a used car dealer, as well as some equipment. The new location with more space has allowed the business to expand into product sales including mulch, stone, and salt.
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The SBA 504 loan required only a 10 percent down payment which allowed the business to retain working capital for the anticipated growth. In addition, the financing included a low, 25 year fixed rate.
