A Chicagoland industrial and millwright contractor with a nationwide record of successful projects became frustrated with their bank’s multiple management layers and non-local decision-making process. The owners decided they needed a new commercial banking partner—one that was service-oriented, experienced in lending within the construction sector, and brought a keen understanding of their business.
Meeting with the ownership team with progressive greater frequency over the last 10 years, First American Bank’s Senior Vice President, Matthew Paasch, eased the company’s banking transition. Matt covered all bases to ensure their board was totally confident with the switch, and led the process to provide a sizable line of credit to support growing working capital needs, predictable debt service, and supplementary products and services. With this new structure and responsive service, the company gained more predictable cash flow. Additionally, freed from driving decision-making based on bank covenants, the company gained the flexibility to make business decisions based on effective strategy.
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