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Heartland Bank Saves the Day for This (New) Small Business Owner

 Monday, June 23, 2014

Paul Balestra had been through a rough couple of years – a workplace injury forced him out of a job for several months and as a result, he was on the verge of homelessness. He was soon fortunate to hire on at Dublin Road Auto Care and the owner of the shop taught Paul the ins and outs of running a repair shop. At that time, he certainly had no inclination that good days were ahead of him.

As the owner’s health deteriorated, an opportunity presented itself for this formerly unemployed auto mechanic to accomplish the unexpected – purchase his own business. In the midst of Paul’s purchase negotiations, and before anything was formally agreed upon, the owner passed away. After some tough negotiations with the owner’s heirs, an agreement was finalized. Next step – get a loan from the bank to pay for the new business!

Paul’s bank promised to help him purchase Dublin Road Auto Care. The bank went through the United States Small Business Administration to secure a loan for him and even though the SBA approved it, somehow the loan fell through. At that time, Paul started wondering about the relationship he had with his bank and reached out to his accountant for suggestions about a new financial institution. With so many big banks in central Ohio, Paul decided to try something different and followed his accountant’s advice and gave Heartland Bank a call. Heartland has long enjoyed the “Preferred Lender” designation from the SBA and was able to save the day. We were able to get the loan approved so Paul could buy the business and achieve his dream of being a small business owner!

So whether you’re starting a new business or just looking for a banking home for your existing venture, Heartland Bank can present you with solutions to help your business thrive. Finding the right mechanic is like finding the right bank! In both cases you want something done quickly (like local decision makers), inexpensively (great rates every day!) and with passion (read about the shared values held by the team at Heartland Bank!). Stop by one of our 11 central Ohio locations and let us fix up your financial concerns today.


 
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