Meredith Village Savings Bank and Belknap EDC Help Fund Hermit Woods Winery’s Expansion
Working with Meredith Village Savings Bank and Belknap County Economic Development, Hermit Woods Winery received the support and funding needed to purchase their future home, a building located at 72 Main Street in downtown Meredith. In addition to loaning Hermit Woods the funds needed to purchase the building, Meredith Village Savings Bank provided a construction loan to bring the building up to date and give it a fresh new look. Belknap EDC also contributed funds toward the purchase of the building, as well as funds to purchase the necessary winemaking equipment to expand production to meet the expected demand of the new location.
Bob Manley, owner/partner at Hermit Woods, said, “We are in our third year at our current location, 56 Taylor Road in Sanbornton, and are bursting at the seams. I don’t think we could produce even one more bottle of wine.” Though the team at Hermit Woods briefly considered expanding at their current location, the cost and challenges associated with that choice quickly made it clear they needed another option. With the help of real estate agent Ellen Mulligan of Coldwell Banker Residential Brokers, they began looking at other alternatives. Bob went on to say, “Working with Ellen, Gracie Cilley, our Loan officer at MVSB, and Carmen Lorentz and Ken Wilson from BelkanpEDC, we have found the perfect solution for our expansion and cannot thank everyone enough for helping us make this happen.”
“Meredith Village Savings Bank was excited to have the opportunity to work with Hermit Woods to help them achieve their expansion goals,” said Gracie Cilley, Vice President – Commercial Loan Officer for Meredith Village Savings Bank. “The Hermit Woods team’s entrepreneurial spirit, vision and passion for the wine making business are sure to make for a successful transition to their new location. We are thrilled to be a part of their new venture and expect that this will be an excellent addition to the Meredith Main Street community.”
Ken Wilson, Loan Officer for BelknapEDC, stated that “We are very pleased and proud of the role that we played in assisting with the financing of Hermit Wood’s expansion into Meredith. This will prove to be a winning addition to Meredith’s Main Street and the adjoining world class destinations.”
Bob wanted to be clear, adding, “Hermit Woods Winery will not be leaving their present location until the finish of the current season in November. There is still much work to be done before we can move our business to Meredith. Nonetheless, the Hermit Woods team is working hard to create a smooth transition and get our winery and tasting room open in Meredith before the holidays. We are looking forward to being part of the Meredith Community.”
Hermit Woods has contracted with Christopher P. Williams Architects to help design the look of their new building, ensuring that the changes they make fit in with the surrounding Main Street businesses. Eric Gallagher from Gallagher Construction will be bringing the design to life. They expect to begin work just as soon as they get approval from the town of Meredith.
About Hermit Woods Winery
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Ken Hardcastle, Chuck Lawrence, and Bob Manley opened this small boutique winery in Sanbornton, New Hampshire in 2011. They make a wide variety of traditional and non-traditional wines from local fruit and honey, as well as a few select wines crafted from grapes purchased from Chile.
You can sample their wine by visiting the Hermit Woods tasting room, which is open on weekends from 11-5, with additional hours in July and August, Wednesday through Friday from 1-5.
Hermit Woods wines can also be purchased in a select few local restaurants, wine shops, and beer stores throughout New Hampshire, as well as in the winery’s tasting room. Hermit Woods wines are also available for purchase online in sixteen states across the country.
About Belknap EDC
Belknap EDC is one of ten non-profit regional development corporations in the state of NH. Since its inception in 1992, Belknap EDC has brought $3 million in new capital to Belknap County in the form of federal grants and loans that comprised the seed capital for its revolving loan fund. Belknap EDC has used this capital to make loans to 70 Belknap County businesses, which leveraged over $75 million in capital from other sources and created or retained over 1,700 jobs. Our loan fund continues to assist new and growing businesses who cannot access 100% of the financing they need from conventional sources. Belknap EDC works to retain and attract talented people to Belknap County, support creative entrepreneurs in Belknap County, and enhance workforce development programs in the Lakes Region. For more information, visit www.BelknapEDC.org
About Meredith Village Savings Bank
Meredith Village Savings Bank, founded in 1869, is an independent mutual savings bank with 11 offices serving individuals, families, businesses and municipalities in the Lakes Region and Plymouth areas. The Bank and its employees are inspired by MVSB’s core values: respect, integrity, teamwork, excellence and stewardship. These values are intrinsic to every decision made at the Bank and are illustrated by the high priority they place on trust, quality service and commitment to community support. MVSB strives to make the communities it serves a better place to work and live. For more information, please visit www.mvsb.com.