Rockland Trust announced it provided a $1 million commercial loan for Paul K. Guillow, Inc. (Guillow’s Model Airplane Company), one of the world’s largest toy airplane manufacturers. The funding will go towards helping position their business better for future growth.
Founded in 1926 by Paul K. Guillow, a World War I U.S. Navy Aviator, in the barn of his family home, Guillow’s rapidly expanded business during a time when Charles Lindbergh popularized aviation and model airplane kits were in high demand. Operating out of their Wakefield, MA headquarters, Guillow’s line of small balsa wood, shelf model, construction kits have acquired millions of loyal customers for over 90 years.
“Guillow’s has long served the imagination and curiosity of aviation enthusiasts, and Rockland Trust is happy to assist the company in satisfying customers for years to come,” said Ross Grifkin, lending officer for Rockland Trust. “This transaction reflects the Bank’s commitment to supporting the local business community and we look forward to strengthening our relationship with the Guillow’s team.”
Through product development and diversification, Guillow’s has become one of the world’s largest toy airplane manufacturers, with its only competitors located overseas.
“We are pleased to have partnered with Rockland Trust to continue growing our business,” said Tom Barker, President and CEO of Guillow’s. “This funding will help us remain a leader in the toy industry and continue bringing joy to customers all over the world.”
Rockland Trust’s Commercial Banking Group has more than 50 commercial lenders and 11 lending centers throughout Massachusetts and Rhode Island. With a lending capacity up to $100 million, the Commercial Banking Team has broad experience in areas such as asset based lending, commercial real estate, construction and land development, equipment financing, commercial mortgages, and low income housing loans. In addition, the team can meet all the financial needs of its customers with additional services such as business deposit products, merchant and foreign exchange services, and treasury management services.