Commercial Banking Success Stories
Real partnerships. Real results.
Culver’s and PenAir: Savoring Success Together
From military retirement to a thriving franchise. See how PenAir backed a vision when other banks wouldn’t.
After retiring from the military, Randy Smith wanted to open a Culver’s restaurant in Navarre, Florida, with his wife, Honey. Despite facing multiple rejections from local banks, their determination and PenAir’s support turned their dreams into reality.
Why did Randy and Honey choose PenAir Commercial Banking?
Randy and Honey value the personalized service and accessibility of PenAir. Their experience with tailored term loans and dedicated support reflects the credit union’s commitment to nurturing strong relationships with local businesses. They plan to continue this partnership for future expansions, emphasizing a shared commitment to community growth.
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Challenges |
Solutions |
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Challenges Multiple rejections Despite their ambition, Randy and Honey encountered multiple rejects from traditional banks, who viewed their lack of experience in the food industry as a risk. |
Solutions Tailored financing PenAir saw their potential and provided a customized term loan solution to get their first location off the ground, helping them turn their passion into a thriving business. |
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Challenges Navigating unfamiliar territory Starting a restaurant is never easy, especially for first-time business owners. Randy and Honey needed guidance on everything from compliance to cash flow management. |
Solutions Expert guidance The PenAir Commercial Banking team offered step-by-step support and industry expertise throughout the entire process. |
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Challenges Financial stability Managing cash flow while starting up as well as adding a second location was a concern. |
Solutions Flexible loan options PenAir’s competitive rates and repayment plans allowed the Smiths to focus on succeeding at every level. |
Innisfree and PenAir: From Obstacles to Opportunities
From financial crisis to flourishing success. See how PenAir innovative financing helped Innisfree Hotels build a thriving partnership.
Innisfree Hotels, known for its beachfront properties, faced significant hurdles during the financial crisis of 2009. When traditional banks turned them away, PenAir stepped in with an innovative financing solution that laid the groundwork for a lasting partnership.
Why did Innisfree Hotels choose PenAir Commercial Banking?
Innisfree Hotels values the deep, personal relationships cultivated with PenAir. Their experiences highlight the credit union’s proactive communication, transparency, and genuine care for its members. This partnership has not only facilitated successful projects but has also reinforced a shared commitment to the community, making PenAir Commercial Banking the first call for future expansions and development.
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Challenges |
Solutions |
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Challenges Market obstacles In 2009, securing funding for their first hotel was nearly impossible due to the financial crisis. |
Solutions Innovative financing The PenAir Commercial Banking team crafted a unique loan situation, partnering with other credit unions and banks to make the project possible. |
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Challenges Skepticism about credit unions Many businesses overlook credit unions for commercial lending. |
Solutions Proven partnership Innisfree chose PenAir for their creativity and team oriented approach, establishing a trust that has led to multiple successful projects together. |
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Challenges Shifting market dynamics Innisfree needs to navigate evolving consumer preferences in the hospitality industry. |
Solutions Flexible lending options This enables Innisfree to modernize their properties with eco-friendly designs and amenities, ensuring they remain competitive and aligned with guest expectations. |
Contact Us Today
Give us a call today at 850-505-3200, Ext. 7380 or email us at Commercial.Banking@penair.org