Security Center Alerts
Salem Five Secures $10 Million Credit Facility for Concord Building & Design
Salem Five Bank Extends New Credit Facility to BWD Technologies
Salem, MA., July 21, 2025 – Salem Five Bank, a full-service financial services organization with over $8B in assets, today announced that it has provided a credit facility to BWD Technologies (Blanking Without Dies), representing the first asset-based lending (ABL) initiative from its new Business Credit team. The $15 million financial package is designed to support the company’s expansion in the automotive industry.
The agreement features a $10 million term loan for BWD to finance a second laser equipment line from Germany and scale production. Additionally, a $5 million revolving line of credit—designed to grow alongside revenue—will support future expansion.
This builds on an existing relationship between Salem Five and one of BWD’s owners and marks a milestone for the asset-based lending group led by SVP Keith Broyles.
“When seeking a trusted banking partner, we immediately thought of Salem Five,” said Timothy Marasco, President of BWD Technologies. “We needed a partner that could move fast, meet deadlines and be responsive. Salem Five did just that—from first meeting to close in just over a month. This financing is key to keeping ahead of the competition and increasing production.”
“This new partnership with BWD is a great example of how Salem Five Business Credit takes the time to understand client goals and deliver tailored financing solutions,” said Keith Broyles, SVP, Business Credit. “We’re excited to support BWD’s continued growth.”
Founded in 2021 and based in Dearborn, MI, BWD Technologies serves major OEMs globally. Its advanced laser blanking technology improves efficiency, reduces costs, and shortens time to market in automotive manufacturing.
Salem Five’s Commercial Banking division continues to expand, offering solutions including deposit products, loans, lines of credit, asset-based lending, CRE financing, and treasury services.
About Salem Five Bank
Salem Five Bancorp is the holding company of Salem Five (www.salemfive.com), a mutual bank founded in 1855. Salem Five has more than $8 billion in assets and 33 branches across Massachusetts.
Divisions include Salem Five Mortgage Company, Salem Five Wealth Management & Trust, and Salem Five Insurance Services.
Salem Five deposits are insured through the FDIC. Securities are offered through LPL Financial, member FINRA/SIPC. Investment and insurance products are not FDIC insured and may lose value.
About BWD Technologies
BWD Technologies LLC (BWD) is a leader in metal blanking, delivering precision-driven, die-free solutions that improve efficiency, reduce waste, and enhance product quality across the manufacturing supply chain.
FOR MORE INFORMATION
(800) 850-5000
PR@salemfive.com
