Lauren Gunther and Alex Feinstein purchase the stores from Rich Madowitz

NORTHAMPTON—Two longtime, downtown businesspeople, Lauren Gunther and Alex Feinstein, have together purchased two stores in Thornes Marketplace—Cedar Chest, which is in its 75th year, and Stay Golden, a brand-new business on the first floor.

Gunther, previously the merchandise manager for both businesses, and Feinstein, the former owner of GoBerry in Northampton and Amherst, purchased the stores in mid-April from Rich Madowitz, who is also a co-owner of Thornes. Gunther and Feinstein are both natives of Hampshire County.

Feinstein closed his Amherst shop early in the pandemic, and the GoBerry in Northampton closed in January 2022. He has been doing pandemic-related financial consulting in the region and had been actively looking for his next challenge when Madowitz connected the two new co-owners late last year because he thought their skillsets were a great fit for joint ownership. 

“We’re excited to move forward and be able to involve our staff in the transition,” said Gunther. 

Feinstein said, “I’m pleased to step into businesses that are already doing awesome work and see what our energy can bring to them to make them do more.” 

Gunther has been with Cedar Chest for 13 years. Feinstein came into the mix in early December 2022 in a consultant role. 

She holds a bachelor’s degree in fashion merchandising and retailing from Framingham State University and an MBA from Southern New Hampshire University. He earned a bachelor’s in fine arts from Connecticut College and has worked in finance and IT in Boston. 

Cedar Chest, a longtime eclectic gift store, carries everything from home décor to stationery, loungewear, bath and body products, and holiday items. Its new sister store, Stay Golden, which opened in October 2022, offers primarily casual and business clothing for women along with jewelry and other accessories. 

About 30 associates work at the shops, with a half dozen dedicated to Stay Golden.

Gunther and Feinstein said they do not have plans to make changes to merchandise in the stores, but they will be looking at creating efficiencies that will allow them to make their staff team stronger. 

“I love to find efficiencies and document and implement systems,” said Feinstein, who grew up in Northampton and Easthampton. “I’ve been on board for five months now and have a new scheduling system, email platform and digital invoicing system in place. Finding tools that work across departments and help people collaborate is what I bring to the table.” 

Gunther’s expertise is in merchandizing. She grew up in Williamsburg and shopped in downtown stores as a young person, later working at Faces for a time as well. “It’s interesting to be among those helping two of these shops to evolve,” she said. “It’s unique to have two entrepreneurs of similar age who grew up in the area and are now really involved in downtown and Thornes. That’s fun and unique.”

To learn more about Thornes Marketplace, visit thornesmarketplace.com.

Thornes Marketplace has been the cornerstone of downtown Northampton and at the center of the Main Street shopping district for more than a century. Built in 1873, it holds 55,000 square feet of space for merchants and includes features like pressed tin ceilings and hardwood floors.

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New England Veterans Chamber of Commerce (NEVCC)  wants to hear from military-involved business owners

BELCHERTOWN—The founder of the New England Veterans Chamber of Commerce (NEVCC), which serves businesses owned by veterans, active military, the National Guard, the United States Reserves, and their family members, throughout New England, wants to hear from its constituents.

As the Coronavirus disease (COVID-19) sweeps across the country, temporarily shuttering businesses and devastating the economy, the founder of NEVCC wants to hear from military-involved business owners in hopes the nonprofit may be able to offer an assist.

“We understand we are in a time where there are unknowns, and we have a lot to figure out,” said NEVCC Executive Director Lisa Ducharme of Belchertown, who created the organization a year ago to connect the 140,000 military-owned businesses in New England to one another.

“We want to be able to help military and veteran businesses in Massachusetts, Connecticut, Maine, New Hampshire, Rhode Island, and Vermont,” she added. “We have many resources. I don’t know that we can help everyone, but we have resources, and we would like to see how we can work together to manage problems.”

Ducharme can be reached at Lisa@NEVCC.org.

While she has seen no official reports on how small business owners are being impacted by the virus, she is sure there is indeed impact. 

A retired United States Air Force veteran, Ducharme created NEVCC under the umbrella of the United States Veterans Chamber of Commerce, (USVCC,) which assists military-involved business owners with advertising, advocacy, and networking.  NEVCC offers the same services.

Ducharme is the daughter of a retired Air Force Vietnam veteran, a retired Air Force veteran herself, and the mother of a retired Army veteran. She holds a bachelor’s degree in hospitality and tourism management with a concentration on event planning from University of Massachusetts, Amherst, a master’s degree in public administration from Westfield State University, and several certifications. 

Ducharme now serves as the veteran and military service coordinator at Westfield State University.

To learn more about NEVCC or its member businesses, visit www.NEVCC.org.

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Third Party Lender of the Year honor acknowledges bank’s support of small businesses

FLORENCE—Florence Bank was recently recognized by the U.S. Small Business Administration (SBA) as the Western Massachusetts Third Party Lender of the Year for loans the bank administers to small businesses in the area.

Michael A. Davey and Erin Couture, both vice presidents / commercial loan officers with the bank, accepted the award on Nov. 8 at an event held during SBA’s Annual Meeting at Clark University in Worcester.

Davey explained that third party loans, called SBA 504 loans, are offered by the bank in collaboration with Certified Development Corporations such as Granite State Development Corporation, Bay Colony Development Corporation, and BDC Capital / CDC New England. 

“The SBA recognizes that small business owners sometimes have more difficulty getting traditional real estate financing, yet owning their own real estate is essential to growth,” said Michael J. Lynch, senior vice president / senior commercial loan officer. “Having real estate assets gives small business owners more of a stake in the community and allows them to build equity. The community gets the benefit of additional jobs, business growth, and tax revenues from a growing small business.”

Davey said the program allows small business owners who might be lacking the traditional 20 percent down payment to purchase business property with only 10 percent down. “It also reduces the bank’s exposure to risk,” he added.

“The 504 loan program supports the growth of small businesses,” he added. “It allows Florence Bank to help promote entrepreneurs and overall economic growth in the region. Small businesses are critical to our local economy.”

Florence Bank has branches in Amherst, Belchertown, Easthampton, Granby, Hadley, Northampton, Williamsburg, West Springfield, and Springfield, and it is headquartered in Florence. 

Florence Bank is a mutually-owned savings bank chartered in 1873. Currently, the bank serves the Pioneer Valley through 11 full-service branch locations in Florence, Northampton, Easthampton, Williamsburg, Amherst, Hadley, Belchertown, Granby, West Springfield, and a new branch located on Allen Street in Springfield. Additionally, they offer 26 ATMs and a wide range of financial services including investment management through FSB Financial Group (FSBFG) to consumers and businesses.  Florence Bank is consistently voted best local bank by the readers of the Valley Advocate and the Daily Hampshire Gazette. 

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