A business that serves commercial fishermen has built-in challenges, among them weather, changing fish populations and federal regulations that substantially impact planning and development. To survive and thrive, a marine design and supply business has to be nimble, innovative and just plain determined.
Last year's expansion of Reidar's Trawl Gear and Marine Supply to a 21,000-square-foot building in New Bedford is a visible statement that the family business is on the right course. The move consolidated the original Fairhaven, Mass., office, design and production space and a separate warehouse.
The purchase of the land and construction of the new building were accomplished with the assistance of a $779,000 loan from the South Eastern Economic Development Corp., in cooperation with Bristol County Savings Bank. The funding was provided under the U.S. Small Business Administration's 504 program, which allows funds to be used for the purchase of real estate and equipment.
Read the full story at the Providence Business News>>