Commercial Banking

Washington Trust Provides Commercial Financing to IYRS School of Technology & Trades in Newport, RI

May 04, 2017

May 4, 2017

Westerly, RI – The Washington Trust Company recently provided commercial financing to the IYRS School of Technology & Trades (IYRS), a Newport based experiential learning institution that teaches the art and science of making, building, restoring and maintaining, and in the process, helps its graduates build both careers and more meaningful lives – inspired by the knowledge that in their hands and through the use of technology, they have the power to build almost anything. As the School looks to increase its annual enrollment, this new commercial financing will support needs for additional programs and the spaces to deliver them.

Founded in 1933, the School has since become an internationally recognized institution with a growing student body. With land purchased adjacent to its waterfront Newport campus, the School is constructing a new, 20,000 square foot building to house existing programs in Composites Technology and Marine Systems, along with the addition of a new program in Digital Modeling & Fabrication.

“IYRS is a world-class institution, active in major building and restoration training, and is growing into general manufacturing industries with its newer programs that focus on building with advanced technologies,” said Joseph M. Confessore, Senior Vice President & Team Leader, Washington Trust Commercial Banking Group. “We are thrilled to support the School as it expands to meet a growing demand for skills based educational opportunities.”

“This is a game-changing project for the school,” says Terry Nathan, IYRS President. “It allows the School to diversify and serve the broader manufacturing and maker industries with the kind of graduates that companies invest in for the long-term.” The IYRS learning model combines deep hands and technology-based skills development with important soft skills like problem-solving, critical thinking and collaboration. “Our legacy of boatbuilding is a great metaphor for building anything. It serves employers in the modern economy because anything with complex shapes – like boats – or structures that live in hostile environments – also like boats – can be understood and built by IYRS grads. You will see more of that kind of work in the new building, thanks in part to Washington Trust.”

Washington Trust’s commercial banking group offers a full line of commercial, industrial and real estate lending and cash management services to leading companies, real estate developers, not-for-profits and municipalities throughout the Northeast. For more information, contact Joseph M. Confessore, Senior Vice President & Team Leader, Washington Trust Commercial Banking Group, at 401-348-1439.

Founded in 1800, Washington Trust is the oldest community bank in the nation and one of the Northeast’s premier financial services companies. Washington Trust offers a full range of financial services, including commercial banking, mortgage banking, personal banking and wealth management and trust services through its offices located in Rhode Island, Connecticut and Massachusetts. The Washington Trust Company is a subsidiary of Washington Trust Bancorp, Inc., (NASDAQ: WASH). Additional information on Washington Trust and its subsidiaries can be found at

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