Creativity Counts in Business Lending
Our partnership with USB has been vital to the success of Adventure Boat Share. We knew when we started that this concept would need a banking partner to make it work. We had worked with Bill Wonus at USB in the past on lending products for our parent company, Holiday Marine Group. He really came through for us on this project with some creative solutions. Bill helped us develop a custom lending product that allowed us to start this part of the business and grow it within a very short amount of time.
We wouldn’t have been able to grow as much as we did without USB. The unique lending arrangement has allowed us to grow quickly by giving us access to new boats as we acquire new members. It allows us to move quickly and ensures that our members have access to the boats they need when they need them. We went from 2 boats to 20 boats and 130 members in the last three years!
Adventure Boat Share was established in 2017 and the last 12 months have been our biggest. With the kind of growth we’ve seen, in order to keep our service reliable for our customers and ensure we have enough boats to accommodate our members, we needed access to quick capital.
The lending product that Bill developed for us gave us what we needed to accommodate that growth and provide a great service to our members. With the growth of the business, we needed to grow our team and product line quickly, and USB’s partnership and personal service made that possible. It has really given us a competitive advantage.
Working with a community bank like USB is a game-changer. You see all of the same faces when you walk in or call. They really take care of you. Because you are always working with the same people, it saves time, is convenient, and makes for a friendly atmosphere.