In 2012, Jeff Trudeau, a seasoned concrete truck operator, saw a growing environmental crisis within the industry he knew so well. Every day, concrete trucks across New England faced a major problem: the improper disposal of washout water. This water, laced with concrete particles and possessing a dangerously high pH, posed a significant environmental threat, its acidic nature comparable to drain cleaner. The potential harm to local waterways and ecosystems was alarming. However, few in the industry seemed to recognize this looming danger—except for Jeff.
Determined to find a solution, Jeff took matters into his own hands. He traveled across the country, visiting businesses in California, Florida, and New Jersey that had found ways to separate the harmful concrete particles from the water, allowing clean water to be safely discharged on-site. It was a brilliant idea—but it wasn’t being implemented in New England. Jeff saw an opportunity not just to address an environmental hazard but to create a business that could make a meaningful impact.
With a clear vision and a well-researched plan, Concrete Washout Solutions of New England was born. Jeff meticulously developed a business plan, forecasting growth and detailing how his services would protect New England’s waterways. However, when he approached banks for funding, many dismissed his idea, unable to grasp its full potential. Some banks estimated his annual sales at only $250,000, a far cry from what Jeff knew he could achieve.
A Vision Backed by Millbury National Bank
When Jeff approached Millbury National Bank, a woman-led community bank focused on supporting small businesses in Massachusetts, he found the support he was looking for. Unlike other financial institutions that doubted his projections, Millbury National Bank saw the environmental and business value of Concrete Washout Solutions of New England. They believed in Jeff’s vision and provided him with a $347,000 startup loan and a $30,000 working line of credit. But their support didn’t end there.
Millbury National Bank offered guidance beyond just financing. From helping Jeff manage deposits to navigating online banking and setting up checking services, they ensured he had the tools and knowledge to succeed. They became more than a bank; they became Jeff’s partner in building a sustainable, impactful business.
Over the past 12 years, Millbury National Bank’s belief in Jeff’s mission has proven to be well-placed. His business has grown exponentially, expanding its operations with additional vehicles, roll-off containers, and excavators. By 2022, Concrete Washout Solutions of New England had doubled its sales, with Jeff successfully repaying all his loans. Through determination and savvy, Jeff built a thriving enterprise that remains the only company in the region offering this crucial service to protect local waterways.
Today, even when Jeff can afford to pay cash for his business needs, he still turns to Millbury National Bank. Their ongoing support and belief in his vision have made them his first call when new opportunities or challenges arise.
CNote’s Impact Cash®: Supporting Banks Like Millbury National to Drive Innovation
Jeff Trudeau’s story is a powerful example of what can happen when local banks like Millbury National take a chance on innovative, impactful ideas. At CNote, we believe in empowering mission-driven financial institutions like Millbury National to continue driving change in their communities. Through CNote’s Impact Cash® program*, corporate clients can deposit their funds into community banks and credit unions, allowing these institutions to make loans to entrepreneurs like Jeff, whose businesses deliver both financial returns and environmental impact.
When clients choose CNote’s Impact Cash®, they’re not just parking their money—they’re fueling growth for small businesses and contributing to local economic sustainability. With 100% FDIC and NCUA insurance for peace of mind, Impact Cash® helps ensure that entrepreneurs like Jeff get the support they need to build a better, greener future for all.
By choosing CNote, you’re helping to fund stories like Jeff Trudeau’s—where innovation, community support, and environmental sustainability intersect to make a lasting impact.
*CNote Group, Inc. is not a bank, a credit union, or any other type of financial institution. CNote is not a registered investment advisor with the Securities and Exchange Commission (SEC) or a broker-dealer authorized by the Financial Industry Regulatory Authority (FINRA). CNote is not a legal, financial, accounting or tax advisor. CNote does not negotiate interest rates. Impact Cash is not a security or investment. Impact Cash® deposits are insured by the FDIC or NCUA, subject to the terms and conditions of the Impact Cash® agreements. We encourage you to consult with a financial adviser or investment professional to determine whether or not the CNote platform makes sense for you.This information should not be relied upon as research, investment or financial advice. This material is strictly for illustrative, educational, or informational purposes and is subject to change.
