Portland Area Bankers Are Helping Businesses Grow
Jul 13, 2009
News from some of your local bankers
Questions about liquidity and credit have been hot topics since last fall. In a recent press release we reported that B2B CFO is on track to help business owners secure $250 million in small business loans this year, with an average loan size of $1.8 million. I thought it would be interesting to get a local perspective on the issue. I asked some of my local banking contacts to give me their feedback and some of their recent success stories. I have included excerpts of some of their responses:
A local manufacturing company that has been in business since 1997 was with another bank and they had a $500K line of credit. This company had been focusing on diversifying their sales mix in terms of product lines and as a result was attracting new customer segments. Even though the current economic climate was in a down turn, this company was experiencing growth. The credit facilities with their existing bank were not sufficient and were not providing them with the working capital needed to fund their growth. After in-depth discussions with this customer to understand their key business strategies, we were able to come up with solutions to partner with their business. Bank of America won their business and was able to help them reach their business growth goals by providing them with a $1million line of credit. We also helped them improve internal controls and cash flow by providing an additional $175K credit for commercial cards to pay their vendors and suppliers.
Bank of America
Bank of America
(888) 852 5000 x8990
As we state on our web site The Commerce Bank of Oregon is open for business and we are aggressively looking for new clients and have money to lend . We recently had a machine shop referred to the bank by a local CPA. The company's profile is typical of a lot of companies in the Portland Area. They have been in business many years, have seasoned management, produce an excellent product, have loyal customers, and have competitive pricing. Their problem is that the down turn in the economy has created problems for them. They have made the adjustments necessary to compete and survive. They have reduced staff, improved their pricing model and looked for a bank that has money to lend and will work with them. We were able to provide a banking relationship that included customized loans to satisfy their needs and other bank services to maximize their cash flow. The company is now stabilized and reporting profits.
The Commerce Bank
The Commerce Bank of Oregon
Seven-year, $3.4MM, fixed-rate interst-rate swap and equipment loan for natural foods processor. Longer than traditional equipment financing, especially with IT equipment and soft costs comprising part of the package.
Mark Burris, V.P., Sr. relationship Manager
Early in the second quarter of last year, just when the economy was starting to tank, a local Portland staffing company desired to stop leasing and construct their own building. The building was to be constructed adjacent to a retail/office development located in the Hillsboro area. The owner of the development was approached by the company and was subsequently hired to act in the capacity of a paid consultant to ensure uniformity and marketability of the project. In order to fund the project, the company approached their existing bank but was turned down. Since I was already working with this developer on another project, the developer referred the company owner to me. After gaining an understanding of the company and the project I quickly determined that the best alternative was an SBA loan. Working with our our SBA officer we came up with the best strategy to fund the project.
By fall of last year, we were still working to put the deal together as banks began crumbling one-by-one as year-end drew nearer. The company owner and I could feel the "credit squeeze" upon us as the credit administrator asked for more and more documentation. With perseverance and a lot of hard work, my SBA officer and I got the project approved and booked. The loan consisted of $1.1 million owner-occupied construction/SBA take out permanent loan. Then, the rain set in and winter was here. We finally broke ground this spring and I am happy to say we are about 50% complete as I write this.
Rhonda R. Marlnee
MBA/VP Commercial Relationship Manager
At US Bank we listen to clients and we respond.
We recently saved a significant amount of money and improved cash flow for a local business owner. We assisted this client refinance an investment commercial property loan. The loan was up for an interest rate reset and the client's existing bank would not offer a competitive rate. They were not concerned about keeping this loan or listening to their client. At US Bank, we listened. We worked closely with this client and successfully refinanced the loan at a significantly lower interest rate and improved cash flow. The process was seamless and the client was impressed. At US Bank we are actively helping businesses with all of their lending needs, including lending on investment commercial properties. We care about our clients and value their business.
Business Banking Officer
US Bank Business Banking
Vice President/Branch Manager
If you are considering a loan for your business, contact me for a review of your financial condition and for referrals to bankers who are looking to make loans. We are experts that can help you with the lending process.