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Bank with People Who Know You by Name

Posted on November 18, 2019


Cleveland Senior Living November 2019 Case Study Blog Post Blog Image B

THE PROBLEM

Phillip and Trina Cleveland saw a need in their community for assisted living homes after exhausting all efforts to find a suitable home for Trina's father who was diagnosed with MS. Cleveland Assisted Living Homes was born out of a desire to provide assisted living services in an environment that is as close to home as possible for every resident. It is much more than a business to these owners, it is a calling to help people. This philosophy helped the business quickly grow from one to three locations. “One of the business challenges we have faced,” said Trina, “is having multiple locations and paying employees.” According to Trina, their old bank provided impersonal service and “I had to teach myself how to set up the direct deposits. There was never anyone I could call to ask questions when I had issues.” After several negative experiences, the Cleveland’s reached out to Chris Latta at Peoples Bank of Alabama. Chris had already developed a personal friendship since living in the same community so they decided to seek his advice on their current banking relationship as well as their future expansion plans.

THE PROCESS

During the initial meeting, Chris quickly discovered several ways that the Peoples Bank of Alabama team could assist the Cleveland’s banking needs.

Phillip and Trina wanted to capitalize on an opportunity to expand by acquiring additional facilities but needed to act quickly and preserve as much capital as possible. Chris realized that traditional financing would have drained their cash on hand making it impossible to fund the necessary property improvements, advertise the new facilities, hire new staff, and maintain reserves for unexpected expenses. Chris reviewed the situation with our GCap Financing team, an experienced team dedicated to SBA lending, and together they provided the perfect solution to help purchase four new facilities and help the Cleveland’s expand their dream of providing the best quality care and assistance to more residents.

Chris also worked with our Commercial Services team to set up ACH direct deposit making payroll easier to manage in their 7 locations. And with Lockbox service, the Cleveland’s could now let Peoples Bank collect and process resident payments.

In addition, Chris and the local branch team set up new deposit and credit card accounts to make their daily banking as seamless as possible.

THE PEOPLE

After switching to Peoples Bank, a member of our Commercial Services team visited Trina and walked her through every step of the ACH direct deposit process. This hands on training also included setting up all current employees so Trina didn't have to spend valuable time figuring out how to do it on her own. “Every time I have had a question or just needed reassurance that I was completing the steps correctly, all I have had to do is pick up the phone and call the representative and she has answered all of my questions. It has been such a relief having someone willing to help,” Trina explained. With Lockbox services, receivables are efficiently and securely deposited which improves cash flow while lowering staffing costs. But perhaps the biggest benefit is that Trina spends less time (and money) on banking and more time focusing on what she loves doing...caring for the residents.


Hear from Trina how Peoples Bank of Alabama helped her small business:

"Everyone involved in helping us move our business to Peoples has been so personable and responsive to our needs. It has been such a pleasant experience, and it is very obvious that they want to build relationships with customers."

~ Trina Cleveland



At Peoples Bank of Alabama, we see our customers as real people and not just a number. 


"Our goal here at Peoples Bank is to serve others and clients to help them succeed in business and in life."  

~Chris Latta, Blount County Market Executive

Managing cash flow is an essential step to maximizing your business growth and profitability. Our Cash Management team is dedicated to helping you understand the overall payables/receivables cycle and to providing solutions that help you effectively manage your cash flow. Peoples Bank of Alabama can provide a comprehensive solution that best meets the needs of your business, because we get to know you and your business better than anyone else. We can help you accelerate cash inflows, maintain liquidity, maximize earnings, manage borrowings, and minimize financial risks.

GCap financing, a division of Peoples Bank of Alabama, exists to meet the needs of our local communities. One way we do this is by having a dedicated team focused on helping businesses maximize their return on capital. Our GCap Financing team works closely with the Small Business Administration, United States Department of Agriculture and other federal, state and local agencies to provide you a bridge from where you are today to where you want to be in the future. We work with you to find the financing solutions that will best help you achieve your goals.

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