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When it came time to expand their coffee business, the Mahoney family turned to Northern Bank and its SBA program.
Atomic Coffee Roasters has recently been one of the fastest growing businesses of its kind in the country. With origins dating back to 1996, what was once just a small cafe in Beverly has blossomed into a burgeoning coffee roasting company that sells its coffee to individuals and businesses.
"We've been roasting coffee at our Salem facility since 2010,” said Logan Mahoney, Director of Business Development and one of the second generation family members at Atomic. "That location has served us well, but we reached capacity in Salem and needed to purchase a new building to fit an even bigger roaster. We knew our banker well and trusted him to help us out."
Northern Bank offered Atomic Coffee Roasters an SBA loan, which is backed by the U.S. government's Small Business Administration.
There are two key advantages of an SBA loan:
With a $1 million SBA loan from Northern Bank, the Mahoney family opened a new facility in Peabody and purchased a powerful roaster that occupies about 100-square-feet of space.
"We signed the purchase and sale agreement in November of 2020," said Logan. "We had the financing completed by February and moved into the building by the end of March. It was a quick solution and everyone at Northern Bank has been exceptional to work with. We went from roasting 40 pounds of coffee in 15 minutes to 130 pounds in the same timeframe with our new roaster."
Atomic was born in 1996 when two brothers, both professional cyclists at the time, set out to answer the question "how hard can it really be to run a cafe?". The first Atomic Cafe opened on Cabot Street in Beverly later that year. In 2017, Atomic Coffee Roasters spun off into its own company with a new team, mission, vision, and goals that extended beyond the walls of Atomic Cafe.
There are now two generations of brothers involved in the business. We roast all coffee to order on our two Diedrich roasters in Peabody, and Salem, and built out a 10,000 square foot facility in Danvers dedicated to cold brew. We've grown our team, our offerings, and our educational resources for the network of small businesses throughout New England that proudly serve our coffee.
At Atomic, our mission is to spread positive energy. For over two decades, our family has used coffee as a catalyst for inspiring community, relationships, and adventures. We dedicate ourselves to the quality of our work and elevating coffee experiences.
When Jon Erickson, owner of J. Erickson Plumbing and Heating LLC, was frustrated with his experience at a “big bank”, he turned to Northern Bank for a personal relationship focused on customer service.
For Chilacates, having a partner that understands family business and shares their passion for success made all the difference.
For one business, it chose Northern Bank for its online banking and local community feel.
Contact us now to learn more about how Northern Bank can help you realize your goals and dreams.