Tsang’s Tea Empire Anchored by SBA 504

Wakefield-based tea entrepreneur expands nationally through strategic partnerships, wholesaling, and a diverse product range, including an online store, retail store, monthly subscription box, and mushroom teas

Gilbert Tsang left behind the stability of his 9-to-5 job at an investment company to pursue his passion for coffee, starting his own café in Boston’s Brighton neighborhood. To diversify his menu, he introduced tea products from MEM Tea Imports.

The combination of coffee and tea turned out to be a perfect match. This move didn’t just enhance his offerings — it forged a valuable friendship with the founder of MEM Tea Imports, who was intrigued by Tsang’s successful coffee wholesaling strategy.

For years, they toyed with the idea of merging their businesses to create a company that could cater to both the coffee and tea needs of Boston’s hospitality industry. In 2009, this vision became a reality when Tsang acquired MEM Tea Imports, laying the foundation for what would become a national purveyor of premium teas.

Building a Tea Empire: MEM Tea Imports + IPOT + Tamim Teas

After selling his stake in the coffee business, Tsang went all-in on tea. Under his leadership, MEM Tea Imports began to flourish. Based in Wakefield, the company focused on distributing loose-leaf tea, sourcing premium ingredients from around the world. Today, MEM Tea’s products can be found in cafés, restaurants, hotels, and other hospitality venues throughout New England, including well-known establishments like Flour Bakery, Tatte, and Mistral.

But Tsang didn’t stop there. He acquired two more tea companies that now operate under the MEM Tea umbrella:

In Pursuit of Tea, founded in 1999, specializes in sourcing high-quality teas from small farms across Asia. It has supplied high-end venues such as New York’s Eleven Madison Park and Gramercy Tavern.

Tamim Teas, added to the portfolio after the pandemic, focuses on functional mushroom teas. These wellness teas are based on the medicinal use of mushrooms in Eastern medicine, which have been used for thousands of years to support immune health.

The SBA 504 Loan: Anchoring Multiple Companies Under One Roof

With three growing businesses, Tsang needed a larger space to house them all. A fellow business owner recommended looking into the SBA 504 loan program for buying commercial property.

Tsang took the advice and researched the SBA’s website, eventually reaching out to Leader Bank, conveniently located in his neighborhood. After learning more, he discovered that he needed a certified development company (CDC) to help facilitate the loan process.  That’s when he connected with Ryan Johnson, Business Development Officer at BDC Capital/CDC New England, to begin the process of securing a new headquarters.

After speaking with a business banker, Tsang learned that a certified development company, backed by the SBA, would be needed to package the 504 deal along with a bank.  He was referred to Ryan Johnson, Business Development Officer at BDC Capital/CDC New England and the process of securing a headquarters for his tea businesses began to take place!

Expanding Nationally Through Strategic Partnerships

Today, MEM Tea Imports employs about 20 staff members and is expanding into new markets, including Washington, D.C., through strategic partnerships. Tsang’s approach involves teaming up with coffee roasters and other tea companies to distribute his products under private labels or the MEM Tea brand.

“We’re working with more partners, more roasters, and other tea companies,” Tsang explains. “Instead of trying to break into new geographic areas ourselves, we partner with coffee roasters who already have established wholesale businesses. We become their tea purveyor, and they distribute our teas alongside their coffee.”

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SBA 504 Certified Development Companies in Massachusetts
The 504 loan program is available exclusively through Certified Development Companies (CDCs). CDCs are certified and regulated by the SBA.  These CDCs are experts in 504 loan regulations and can guide small business owners through the complex lender channels to secure project financing.