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T & D Wood Energy

T&D Wood Energy, founded by Tony Wood and his father in 2018, manufactures premium wood pellets for the heating market in the Northeast. The company sells to all New England states, and in each of the three heating seasons, they have sold out of all their product and needed to make more.

The owners had been working on developing a wood pellet plant for almost 11 years before they got close to building a facility. When the company was ready to close financing on its current plant, Coastal Enterprises brought Southern Maine Finance Agency (SMFA) into the relationship.

“Working with SMFA was a breeze,” says Tony Wood. “We had already gone through several steps before SMFA came into the picture. Within several weeks of finding out Southern Maine Finance would play a role in the investment, T&D had been approved.”

“If SMFA had not come along when they did, we would still be hamstrung for working capital,” adds Wood. “SMFA was a natural fit both geographically and job creation-wise. We have 16 full-time employees and are looking to hire more so the plant can run seven days a week.”

“Working with the staff at SMFA was easy,” Wood continues. “We leaned on them along the way to get advice and suggestions on making things happen smoothly. They made the process into something that checks all the right boxes. It works for us and SMFA.”

“Because of the relationship with SMFA, we were able to purchase three very large clear span fabric buildings to cover our raw materials where, in the past, we had to leave them outside in the elements, which made our equipment struggle and slow down production.”

“We want to be as much a part of the community as possible, and SMFA is one important part of making this happen,” says Wood. “We came into this business with a solid business plan and fundamentals but did not have a big pot of cash to throw at it. This is where SMFA made us shine,” concludes Wood.

Thanks to its partnership with SMFA, T&D Wood Energy has grown its business and continues to provide high-quality wood pellets to its customers. The company’s success is a testament to its strong business plan and SMFA’s support in providing the necessary financing to realize its dreams.