Waterbury-based Webster Bank has provided $6 million in financing for the Boston, Mass.-based American Meteorological Society (AMS).
"The financing provided through Webster Bank has been critical in allowing us the opportunity to provide a better working environment for our employees and better service to our members around the world," said Keith Seitter, AMS executive director.
The financing package includes Webster’s purchase of $5.5 million in tax-exempt industrial development bonds from MassDevelopment and a $500,000 line of credit for working capital, according to a statement. AMS is using the financing to purchase an adjacent building on Beacon Street, which will be used for expansion.
"The American Meteorological Society is a highly respected, national organization that has been a part of the fabric of New England since its founding here in 1919," said Ann Meade, senior vice president, commercial banking for Webster Bank. "We’re very pleased that Webster is able to provide them with the financial products and services that will help fund their growth into their centennial year and beyond."





