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TMCNet:  Washington Trust Provides $1.45 Million Financing for Rhode Island Child Care Center

[December 04, 2012]

Washington Trust Provides $1.45 Million Financing for Rhode Island Child Care Center

WESTERLY, R.I. --(Business Wire)--

Washington Trust's Commercial & Industrial Lending Group has provided a $1,453,000 million commercial mortgage to Tender Hearts Child Care and Learning Center Inc. and Terrace Properties, LLC, located at 935 Jefferson Boulevard in Warwick, Rhode Island. The Bank's financing package covers the purchase of the two commercial condo units which house Tender Hearts Child Care's operations.

"Tender Hearts Child Care Center has an excellent reputation and is perfectly located within a key Rhode Island business district," stated Joseph J. MarcAurele, Washington Trust Chairman, President, and Chief Executive Officer. "As the demand for quality child care continues to grow, these factors will help Tender Hearts' continued success."

Washington Trust's Commercial & Industrial Lending Group offers working capital, acquisition, and equipment financing as well as owner ocupied real estate financing. TheĀ Bank's commercial lending groupĀ also offers a full-range of cash management products and services. For more information, contact John Kennedy Vice President, Commercial Lending, toll-free at 1-800-475-2265 ext.4325 or directly at 401-739-2353.

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Founded in 1800, Washington Trust is one of New England's premier financial services companies, providing commercial banking, personal banking, mortgage banking, and wealth management services to individuals and institutions throughout the region. Our Commercial Banking Group offers a full line of commercial and industrial lending, commercial real estate, and cash management services to borrowers throughout the Northeast. Our team of experienced professionals are dedicated to providing customized, comprehensive financing and personalized services. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ Global Select, symbol: WASH).


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