Taking a risk against the odds

“With everything finally taking off, with all we strived for, it felt good knowing that Webster was by our side.”
– Joe Fortin, Dynasty Electric

Dynasty Electric

Client background

Joe Fortin, owner of Dynasty Electric in East Providence, RI and Rehoboth, MA, followed his dream and started his own company during a challenging economy —but knew he couldn’t do it alone. Joe needed a banking partner who could match his “can-do” attitude and help him build a business that would span generations.

The Moment

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In 2010, the country was still recovering from the 2008 recession. Despite high unemployment and foreclosures happening all around, Joe was driven to take a big risk; leaving his position with a major company and start his own electrical subcontracting company. People told him the odds were against success; that it would be difficult to secure financing or bonding. Joe was determined to prove them wrong and once he connected with Webster Bank, he knew he would succeed.


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Our response

Dynasty Electric was caught in a cycle: no financing means no bonding, no bonding means no work. Webster Bank jumped in to help with every step and provided:

The results

Since partnering with Webster Bank, Dynasty Electric has been able to secure new business on multi-million dollar residential projects through bonding, obtain a much desired second location in Massachusetts, experience more than an 18% growth in revenue and establish a sustainable business for future generations.


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