Commercial Banking Update

Waterford facilitated a combination tax exempt and non-tax exempt bond financing for a private university. We were able to deliver on a fixed rate bond, despite the rapidly rising interest rate environment.

Simultaneously, our Treasury Management Team implemented remote deposit, wire transfer origination, ACH origination, and Check and ACH positive pay to complete their banking services and expedite check collection while mitigating fraud.  

Rebecca Neuman facilitated an SBA 7a loan to provide for the sale of a historic Michigan business via an Employee Stock Ownership Plan (ESOP).

Waterford’s knowledge in ESOP structure and SBA Loans helped the business owner and employees execute a complex deal in a timely manner – maintaining the integrity and excellence of a company that has existed for over 40 years.

Additionally, our Treasury Management Team helped the owner set up robust business online banking tools, providing employees the training and services they need to run the business.

Andy Helmuth provided over $11 million in acquisition financing for a plastic injection molder including a revolving line of credit, an equipment loan plus acquisition financing along with full treasury management services. 

The loan was able to be closed two weeks from engagement with Waterford Bank.

Our Treasury Management Team further assisted them by setting up a Visa Business Card to help streamline the procurement process and eliminate paper-based purchase options to speed up their purchasing process. 

Recently, Angela Logan, Vice President/Branch Officer, assisted several franchise businesses by converting 10 Smart Safes to Waterford Bank, N.A.’s Vault Services.

With Vault Services, customers can be confident that their deposits will be transported securely, receive provisional credit daily, and have coins and cash delivered on our day of scheduled pick up – safeguarding not only a company’s deposits, but also their employees.

To accompany the Smart Safe Conversions, Andy Schneider, Vice President, Treasury Management, presented a suite of Treasury services that helped to streamline the business operations and better them from fraudulent activity with Check Positive Pay and ACH Positive Pay. 

At Waterford Bank, N.A. we’ve been rewriting the book on

relationship banking throughout the Midwest for over a decade.

We pride ourselves on our relationship banking model, providing

you personalized, one-on-one service that is second to none.

From opening term notes and lines of credit to providing

construction financing and implementing robust treasury

services, see how adding a “relationship” to your banking needs

can make a big difference to your business.