Local Banks Help Businesses Grow

Local banks give business owners the best of both worlds: modern convenience combined with personal connection.

“We really try to work with the small business,” said Christine Mesick, Vice President of Adirondack Trust Company. “We customize what we do to each borrower.” The bank offers all the standard loans, including Small Business Administration (SBA) loan programs that offer low down payments and flexible terms. Express loans are also available.

Mesick said bank staff can tailor each loan to the needs of the company, working quickly as needed.

“When the Payment Protection Program hit, the teamwork that we pulled off to get that program out and that money into the community was pretty impressive,” Mesick remembered. “We were live the first hour it came up. The whole team was in here.” She even remembered the Bank President, Charles V. Wait, Jr., out on the floor taking drink orders and bringing food to employees. “It was like in ‘It’s a Wonderful Life’,” she said.

“There is a ton of history here with this bank and with this community,” Mesick noted. The bank has a lot of repeat business customers, and is always open to fostering new relationships. Some companies are referred to the bank by their accountants, Mesick said. Others find the bank on their own. “We get people show up in the lobby. They can find us online. We try to keep ourselves accessible. And the bank’s been here forever; it’s not a new name.”

Mesick said one of the enjoyable aspects of her work is watching local businesses grow. She used the example of Lazy Dog Cookie Company of Ballston Spa, known for gourmet dog treats. “It started in the couple’s kitchen,” she said. “We started out with a small line of credit for them to buy inventory. They grew and grew, and now they lease a 10,000 square foot warehouse. We have their treats in our branches.”

Mesick said the important thing for businesses to remember when it comes to having a positive relationship with their local bank is to maintain open communication. “The more I know about you and your business, the more quickly I can react. It’s that constant communication, just staying in touch and getting to know each other.” Plus, the communication makes the experience of borrowing and lending more personal. “I’m having fun,” Mesick said. 

Business Products

Saratoga National Bank and Trust Company has all the products business owners need from loans to business accounts to payroll assistance, according to President and CEO David S. Demarco.

“What we pride ourselves on and strive for is to build a business/banking relationship,” Demarco said. “We get to know the business, and then recommend solutions using our products.”

One important product the bank offers with business accounts, he said, is fraud protection. “One of the biggest issues is fraud,” Demarco noted, for businesses today.

The bank also offers a full slate of insurance products through its own insurance company, Upstate Agency. “We offer health insurance, property, casualty, and workmen’s comp,” Demarco said. 

Small businesses can get credit cards through the bank that display their company logo, Demarco said, which helps with name recognition when employees make business purchases in the community. Merchant processing, the ability to accept credit card payment from customers, is another product to benefit small businesses.

The bank also offers a payroll service, and programs to help employees prosper, such as 401K plans. “If there’s a financial need, we can find a solution and deliver that solution in a very personal way,” Demarco said.

Noting that the bank offers online banking, Demarco stressed that the bank works hard not to let modern convenience overshadow the personal approach. “As much as you hear about the digital transformation of banking, it’s the small business owner that still wants more of a relationship. They want a banking team that will listen and provide solutions.” 

Demarco recalled once visiting a business customer. He noticed that they had a small gym in the warehouse. Asking about it, he was told it was for employee use, before or after work. “Oh, you offer that to your staff?” Demarco said. “Have you talked to your health insurance broker? That may save you money.”

The business owner looked into this option, and did save money. Demarco stressed that this all came about because he visited the business on sight. “It’s easier as bankers to understand what the needs are when you can see and touch and kick the tires, if you will,” he explained. “By being present and not on a Zoom call, you can learn a lot more.”