How Rhode Island Manufacturer Moss Pure Used SBA Financing to Fuel Growth

When Jamie Mitri launched Moss Pure after winning an MIT startup competition in 2020, she never imagined she would one day be manufacturing 25-foot living moss installations for clients across the country. Today, the Rhode Island entrepreneur leads a growing manufacturing company whose products can be found in corporate offices, health care facilities and commercial properties nationwide. 

Moss Pure manufactures living moss air-purifying art installations that combine science, sustainability and design. Mitri founded the company after her business idea won first place in an MIT startup competition. Later that year, Moss Pure was invited to participate in the United Nations Development Programme, where it was recognized as a Top 10 Startup in August 2020. Today, the company serves clients throughout the United States while continuing to manufacture its products in Rhode Island.

From its manufacturing facility in Cranston, R.I., Moss Pure sources all non-moss materials locally, within a five-mile radius of its operations. The approach reflects Mitri's commitment to supporting local suppliers while keeping manufacturing rooted in Rhode Island. 

As demand grew, Mitri found herself constrained by the company's original manufacturing space. Larger commercial projects required additional production capacity, greater ceiling height and more room for assembly and shipping. After searching for more than a year, she found a commercial condominium that could support the company's next stage of growth. 

“I was looking for something for a year and a half," Mitri said. "I found this commercial space that would allow me to create these bigger pieces and keep going after these bigger companies for these bigger pieces.” 

Washington Trust helped Moss Pure secure financing to purchase the property, enabling the company to expand production and pursue larger projects. The additional space immediately opened new opportunities.

The financing was completed through the SBA 504 loan program in partnership with CDC New England, a Certified Development Company that helps small businesses throughout New England access long-term, fixed-rate financing for commercial real estate and other major investments. CDC New England worked with Moss Pure and Washington Trust on the transaction, helping the company acquire the commercial condominium while preserving capital for Moss Pure to invest in marketing and production capacity.

“My business grew because I got into the new commercial condo space, and I was able to put the money I saved on the down payment into marketing to get those bigger clientele,” Mitri said.

Among those projects was a custom installation for a professional basketball player, a project that would have been impossible to manufacture in the company's previous facility. Mitri said the new space now allows Moss Pure to build multiple large-scale installations simultaneously and better serve its growing national customer base.

For Washington Trust, the Moss Pure story reflects the value of relationship banking.

“What we try to do is really understand the client and their business, as well as the strategy and what they want to do and how they want to grow,” said Joseph Confessore, senior vice president and managing director, commercial and private banking, Washington Trust. “Then we try to match the products and services around that.”

Confessore said the bank's goal is to look beyond a single transaction and understand how it can help businesses achieve their long-term objectives.

“We're not a transactional lender,” he said. “We're focused on building relationships and finding ways to create value for our clients.”

That relationship proved especially meaningful to Mitri, who acknowledged she was initially hesitant to take on business financing.

“I was just really scared as a business owner,” she said. “I didn't understand any of the financial information, and they walked me through it. Washington Trust was great with me and made me feel very comfortable.”

As Moss Pure continues to grow, Mitri said she already finds herself thinking about what comes next. The company is producing larger projects, expanding its reach and exploring future opportunities to increase its manufacturing footprint.

“I have that relationship with Washington Trust, where if I need something, I know I can count on them,” Mitri said. “To me, that relationship is really important.”

For Confessore, helping companies reach that next stage is one of the most rewarding parts of commercial banking.

“Jamie has done an excellent job executing what her plan is and even thinking about the next few steps and next stages on what's coming in the future,” he said.