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Partner Stories - Urban Sanctuary

 

Challenge:

Eight years ago, two friends had an idea–a vision for a beautiful place in Athens where people could spend an afternoon or even just an hour and find a place to relax and unwind: a total sanctuary. The dream of Urban Sanctuary, a boutique spa,was born. Alan McArthur and Candice Courcy had plenty of training and experience in the industry and were able to get their business off to a solid start. What they needed was a bank that could show them how to grow; what they needed was First American Bank & Trust.
 

Solution:

Small businesses don’t have a lot of assets. There is very little liquidity and few opportunities to get credit. Recognizing this, First American went to work on Urban Sanctuary’s treasury management. The team structured a plan in which money would funnel back into the business as efficiently as possible. They mapped out ways for Alan and Candace to better manage the assets they did have and position the company to one day gain greater access to credit. “We couldn’t be happier with their growth and success,” said Sam Drennen, Group Vice President, Retail Banking. “We were able to hook them up with another client who owned real estate perfect for their new location, support their expansion and get them into a position to build more equity.” Larger commercial banks often overlook businesses like Urban Sanctuary, but First American takes a different approach. “Small businesses are a vital part of our economy,” Drennen said. “In our community we want to nurture that and help them reach the next level.”
 
First American is glad to have great customers like Alan McArthur and Candice Courcy. The same passion they bring to their business, we bring to ours. It’s what makes us a strong and stable bank.