Haverhill, MA – MassDevelopment has partnered with Haverhill Bank to provide loan financing to 63 Neck Road LLC, an affiliate of Home Care Specialists, Inc., which will use proceeds to buy a building at 63 Neck Rd. in Haverhill.
Haverhill Bank provided a $2,925,000 loan, which MassDevelopment enhanced. Home Care Specialists, Inc., which currently leases a facility at 113 Neck Rd., is a supplier of respiratory therapy and home medical equipment. Buying and relocating to the building at 63 Neck Rd. will allow the company to reduce expenses and streamline its services in the new facility. The company expects to create an additional 10 full-time jobs and five part-time jobs in the next three years.
“The support MassDevelopment provided made the purchase of our new facility a reality that would have been a challenge due to the 25% down payment required,” said Home Care Specialists, Inc. CEO Brian Desmarais. “This program allowed us to maintain our cash reserves for day to day operations as we continue to adapt to the new healthcare environment the pandemic has left behind.”