At Saco & Biddeford Savings Institution, we believe that strong partnerships are at the center of every successful project.
That belief comes to life in the collaboration between Commercial Loan Officer Jamie Whelan and local business owner Owen Baxter, whose vision is now taking shape at 6 Cummings Road in Scarborough.
From Idea to Opportunity
Four years ago, Owen Baxter had an idea — one that started not in a boardroom, but in a garage. As the owner of a growing business, Owen recognized the need for a dedicated space that could better support his operations and expand the level of service he provides to clients across Scarborough, Cape Elizabeth, Westbrook, and Gorham.
Relocating to a permanent site in Scarborough represents more than just a move. It brings his business closer to the communities he serves and creates an opportunity to operate more efficiently and effectively.
The Importance of the Right Financial Partner
For a project of this size, securing financing is about more than just numbers — it’s about finding a partner who understands the vision behind the investment.
“That was the most important piece for us,” Owen shared. “Working with someone like Jamie, who understood what we were trying to build and had confidence in our ability to make it happen.”
From the lender’s perspective, preparation and organization played a key role in moving the project forward.
“Owen came to the table fully prepared,” Jamie explained. “Everything was well documented, and he was engaged throughout the entire process. That level of organization goes a long way in setting a project up for success.”
Flexible Lending for Complex Projects
Construction projects often require adaptable financing solutions, and that’s where community banking makes a difference.
As a local bank, SBSI is able to structure loans around the specific needs of each borrower. In this case, the loan included an interest-only component during the construction phase, allowing Owen to manage costs more effectively as the project progresses.
Additionally, SBSI connected Owen with trusted third-party construction monitoring partners to assist with managing draws and disbursements throughout the build process — helping ensure a smooth and well-coordinated experience from start to finish.
Supporting Growth and Job Creation
Projects like this extend beyond a single business — they contribute to the growth of the local economy.
Once the building is complete, Owen’s new space is expected to support a growing team, with an estimated 20 to 30 people working in and out of the facility on a daily basis. For many of those roles, this project represents the creation of entirely new positions.
“It’s entrepreneurs like Owen who take the vision and the risk to build something new,” Jamie said. “In many ways, this is about creating opportunity — not just for one business, but for the community as a whole.”
A Partnership Built on Trust
At the heart of this project is a shared sense of trust and collaboration.
“I’m grateful Owen chose to partner with us,” Jamie said. “It’s been a pleasure working together, and we look forward to continuing to support his business as it grows.”
For Owen, that partnership made all the difference.
“This started as an idea years ago,” he reflected. “There’s real opportunity out there, and working with Jamie helped make this possible.”
