Mayor Domenic J. Sarno toured Bay State Metal Solutions today and announced that the company and President Tony Fernandez is a recipient of the City’s Small Business Loan Program.
“Supporting companies like Bay State Metal Solutions is critical to our efforts to assist small businesses to grow here in Springfield,” stated Mayor Sarno. “This money will be used to finance improvements to the building and help the company construct a new paint booth.”
“At a time when President Obama and Congressional leaders are looking at how the federal government can help create jobs,” the mayor remarked, “Springfield values the limited federal dollars we receive that can be used for business development. Today’s announcement and the ongoing expansion of Smith & Wesson are two examples of how we can support our existing Springfield businesses and give them the tools they need to grow and add jobs.”
This loan program is funded by the U.S. Department of Housing and Urban Development (HUD)’s Community Development Block Grant Program (CDBG) funds. As a result, the project is expected to fulfill basic requirements of the CDBG program, particularly as they relate to job creation and retention goals, elimination of slum and blight, and project impact upon the environment. Businesses within CDBG eligible neighborhoods are eligible to apply. The loan for Bay State Metal Solutions is for $25,000 and will be used for exterior building improvements and construction of a paint booth for the company’s metal fabricated products. The loan has a five year payback period and if the company continues to operate after three years, a portion of the loan can be forgiven.
Bay State Metal Solutions began operations here in Springfield in July 2010 when Mr. Fernandez purchased the former Ace Metal Fabricators. Since the purchase, he has doubled the number of employees and doubled sales for the company. Additionally, he has utilized co-op students from Putnam Vocational High School and recently provided students the material to construct the company’s new sign. The company has also hired two workers from the Hampden County House of Corrections Pre-Release program.
CONTACT:
Tom Walsh
Communications Director
Office of Mayor Domenic J. Sarno
TWalsh@springfieldcityhall.com
Tel: (413) 787-6109
