Solid Banking Relationships Lead to the Ability to Grow
December 28, 2020
Certainly, the pandemic has put new distance between people – between friends, between relatives and between business colleagues.
One exception is the closer-than-before relationship between Southern California-based ThinkWrite Technologies and its business banking resource, Torrey Pines Bank.
“Our banker at Torrey Pines reached out to us right away about the Paycheck Protection Program,” said Mike Guerena, Founder and CEO of the family-owned company that develops, manufactures and distributes its own mobile device accessories, from headphones and headsets to 10-port USB charging stations.
“Torrey Pines Bank stepped up really quickly, made us aware of this opportunity and helped us through every step of the process.”
He added, “It was a huge benefit to have a bank that knows us vs. a giant bank that doesn’t. Torrey Pines Bank knew our business pretty well and this helped immensely during a time when our cash flow was thin.”
Just as ThinkWrite was moving to triple its manufacturing capabilities in China to meet growing demand for its products for students doing school at home – not to mention their parents trying to work from home – it helped that the company could rely on its existing credit line.
“We recognized the pandemic was creating a transformative time in education and in society, and we took the risk to triple our production. Having a credit line with Torrey Pines Bank enabled us to ramp up production quickly when we saw the opportunity,” said Guerena.
For ThinkWrite Technologies and many other businesses in 2020, the pandemic reinforced the benefits of solid relationship banking. Looking ahead, Guerena sees even more upside. “We’ll probably need an even bigger credit line to keep up with increasing demand. And being able to have these conversations with a banker I know, and who knows me, is incredibly helpful.”
Torrey Pines Bank, the Southern California division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2003, Torrey Pines Bank offers a full spectrum of tailored business banking solutions and outstanding service, with offices throughout San Diego, Los Angeles and Orange County. Part of top-performing Western Alliance Bancorporation, with more than $65 billion in assets, Torrey Pines Bank has the reach, resources and local market expertise that make a difference for customers.