A Worcester transportation company that started less than five years ago in its owner’s home is getting a $1.75 million new home of its own.
L&S Transportation Services has purchased commercial property at 340 Tacoma St. through financing from the Worcester Business Development Corporation and Bay State Bank, giving the growing non-emergency medical transportation company dedicated space for its offices, vehicles and operations.
The $1.752 million project was financed through the U.S. Small Business Administration’s 504 Loan Program, according to an announcement from WBDC.
Founded in October 2021 by Limbert Lavandier, L&S provides scheduled transportation for people who need assistance getting to appointments and other destinations but do not require an ambulance or other emergency transportation. The company primarily serves clients eligible for Medicaid and Medicare.
Until now, L&S had been operating from Lavandier’s Worcester residence.
The Tacoma Street acquisition gives the company dedicated office space, covered parking and a large outdoor area for vehicle circulation and fleet operations. WBDC said the property allows L&S to centralize its operations while providing additional room for vehicle storage and servicing as the company grows.
“Keeping investment local and helping Worcester businesses grow is at the heart of what community banking is all about,” Bernard Gagnon, senior vice president and commercial loan officer at Bay State Bank, said in the WBDC release.
“We were especially proud to work alongside the WBDC to help L&S Transportation Services, a Worcester-based, family-owned and operated business, take this important next step,” Gagnon said. “When local organizations come together to support local businesses, we’re not only helping one company grow, we’re investing in the continued strength of our Worcester community.”
The Worcester deal is one of two recently funded by WBDC through the SBA 504 program, representing more than $2.2 million in combined project costs.
The federal program provides long-term, fixed-rate financing to small businesses for major investments such as commercial real estate and equipment. WBDC has operated as a certified development company under the program since 1981.
“We are thrilled to support Jared’s Auto and L&S Transportation Services as they continue to grow through the SBA 504 Loan Program,” Christina Escobar, WBDC’s director of SBA and lending, said in the organization’s announcement. “Both businesses have established strong reputations and demonstrated a clear vision for the future.”
Second loan supports Douglas auto business
WBDC also provided SBA 504 financing for a $525,000 project allowing Jared’s Auto to purchase commercial property at 3 Glen St. in Douglas. Webster First Federal Credit Union partnered with WBDC on the financing.
Jared Malo founded the auto repair and vehicle inspection business in 2011. It had been operating from leased space on Main Street in Sutton with two garage bays and lifts.
Its new Douglas facility has five garage bays and lifts as well as office and storage space, substantially increasing the company’s service capacity while keeping it close to its previous location.
“Webster First Federal Credit Union is proud to support Jared’s Auto as it secures a permanent home for its growing business,” Bryan Regele, senior vice president of lending and chief loan officer at Webster First Federal Credit Union, said in the WBDC release. “Having served the community since 2011, Jared’s Auto has built a reputation for dependable local service and steady growth.”
For WBDC, the two transactions represent another part of its economic development work beyond the large-scale Worcester projects for which the organization is often known.
The nonprofit has recently been overseeing redevelopment of the former Saint-Gobain campus into GreenTech Park, where $12.8 million in publicly funded roadway and infrastructure improvements are underway.
Its small-business lending work, meanwhile, is aimed at helping individual companies acquire property and other fixed assets that can allow them to expand — in the case of L&S Transportation Services, taking a Worcester business from its founder’s home to a permanent commercial base in the city.
