Pilot Bank has been serving the Tampa Bay community for 33 years and is continuing to do so by expanding their services to meet the needs of their clients throughout COVID-19. CEO of Pilot Bank Roy Hellwege discussed the expanse of services that they provide in ‘Pilot Bank Digital Executive Forum’ which includes:
- Small business administration lending division
- Conventional commercial lending
- Full array of depository products for commercial and retail clients
- SBA Lender
- General Aviation Finance nationally
Over the past ten years Pilot Bank has been focused on several key priorities for their clients including:
- Remaining well capitalized
- Building share-holder value
- Remain true to core values
The core values of Pilot Bank relate to community outreach and service with a focus on building relationships with their clients and constantly advocating for each client. Pilot Bank has completed six capital raises since 2010 and has been ranked a five-star bank by Bauer Financial which is the highest rating a bank can reach.
Throughout the devastation of COVID-19 Pilot Bank has contributed many services to help get their clients through this challenging time. An alternative lending program this team offers is the Mainstreet Lending Program which associate Brad Abbey discusses in depth.
Through the business-owner perspective the four main things to know about this program include:
- A preset five-year term loan with a predetermined repayment schedule
- A qualification-process
- In order to qualify the business had to be profitable in 2019
- Agreements with this loan – limitations on owner compensation, distribution, and stock repurchases
The Mainstreet Lending Program encourages business owners to keep progressing through these difficult times by providing:
- Low interest rates past the first year (adjustable)
- Range from $250,000 – $50 million
- There are three subprograms that help for-profit businesses and two subprograms that help non-profit businesses
Pilot Bank continues to stay positive throughout the pandemic and will continue to be a supportive resource for lending and banking needs for the communities they serve. They believe our economy will bounce back within a few years and the U.S. will continue to be one of the most resourceful and resilient economies in the world.
To view the ‘Pilot Bank Digital Executive Forum’ visit here:
