Our story is one of consistent growth and a commitment to providing exceptional commercial property maintenance solutions. Our President and CEO, Anthony Samuels, led a journey from a small commercial cleaning business to becoming one of the largest facility services firms owned by a person of color in Massachusetts. But as any experienced entrepreneur will tell you, building a successful business isn’t just about having a vision; it’s about having the right partners to help bring that vision to life.
In our recent growth stage, we realized the importance of having a financial partner who could understand and support our vision. As detailed in a recent blog post by Eastern Bank called “Advancing a Business Vision for Growth”, the role of a reliable banking partner in the growth strategy of a business is vital. The article discusses how a solid banking relationship has been instrumental to DRB Facility Services’ expansion and its continued commitment to commercial property maintenance excellence.
Aligning Vision and Services with the Right Partner
DRB Facility Services’ strategic plan focuses on developing contracts, expanding our offerings, and managing acquisitions. Our business operates within an industry made up of many smaller businesses and few larger companies of comparable size and scale. Both organic and inorganic growth have been crucial to our business expansion.
A significant part of this success hinged on finding a financial partner that could provide the necessary support. We sought a banking partner who could not only offer financing but also understand our business model and vision. Eastern Bank emerged as a much-needed partner, providing us with an all-important sense of trust and a strong professional relationship.
Eastern Bank’s commitment to understanding DRB Facility Services and its vision translated into providing $3 million in financing. This included a revolving line of credit for working capital, an equipment line of credit, and financing for acquisitions, which has helped us extend our footprint in the commercial property maintenance sector.
Recognizing Unique Challenges and Opportunities
The Commercial Lending Team at Eastern Bank wasn’t our first interaction with the bank. DRB Facility Services has been providing cleaning services to Eastern Bank and Eastern Insurance Group LLC since 2013. Our collaboration further deepened when we participated in the first cohort of the Foundation for Business Equity’s (FBE) Business Equity Initiative (BEI), which Eastern launched to support the growth of businesses owned by people of color.
Through the BEI program, we have overcome unique challenges as a 100% minority-owned company. The program has played a significant role in boosting our credibility, enabling us to secure and take on larger contracts within the commercial property maintenance industry.
Enabling Long-Term Growth Strategy
A key component of our growth strategy has been the integration of acquisitions to expand our service offerings. For instance, we recently acquired a professional metal and stone refinishing service, expanding our portfolio and providing one-stop services to our clients. Thanks to the financial backing from Eastern Bank, we are well-positioned to continue expanding our service offerings.
Working with Eastern Bank means more than just having a financial resource. It means having a team that understands our company and its capabilities and can support our goals with understanding and intent. Building a solid banking relationship has positioned DRB Facility Services for continued growth and a sustained commitment to commercial property maintenance excellence.
As we look forward to the future, we’re well-equipped to bring our vision to life and continue offering top-notch commercial property maintenance solutions. Through strategic growth planning, innovation, and our commitment to quality, we are excited about the journey ahead.
