Celebrate Small Business Week
September 14, 2021
It’s no secret that BayFirst loves to support small businesses every chance it gets. So, this Small Business Week we’ll be highlighting some client success stories, dispelling myths about small businesses, spotlighting a few members of our lending team, and having a little fun along the way. Be sure to follow us on Instagram
to take part. And don’t forget to show your favorite small business some love this Small Business Week and year-round!
First up, we want to share the story of a client relationship that has been brewing for years.
Like many business owners, Devon Kreps knew she could use financial assistance to keep her business afloat during the pandemic. However, when she pursued CARES Act funding in 2020, she found herself in unchartered waters and quickly realized she needed a bank that could provide more than just a loan.
Prior to the pandemic, Devon had secured an SBA 7(a) loan with BayFirst to open 7venth Sun Brewery
in Tampa, Florida.
“I first started working with BayFirst and Credit Bench on a Small Business Administration (SBA) loan for my Tampa project because it was a fairly big undertaking, and the brewing industry is a capital-intensive type of business,” said Devon. “It was really all based on the merit of my existing business and creating that relationship with the people I met through CreditBench and BayFirst that allowed me to get that project off the ground.”
Happy with her experience, when COVID hit and her business was impacted, she turned to BayFirst again for assistance securing Paycheck Protection Program loans for the Tampa brewery and affiliated businesses she had also opened in the area.
Then, when congress announced additional relief for borrowers under the CARES Act covering up to five months of SBA loan payments, Devon was approved, but only to receive funding for two out of five months despite qualifying for all five. Thankfully, she had BayFirst in her corner.
“It took the BayFirst team really fighting for me and making my case to the SBA to get those five payments taken care of, which was incredibly necessary given that we lost half our income in 2020. I am so appreciative of them going to bat for me,” added Devon.
Knowing she could rely on BayFirst for not only financing but also guidance and support when she needed it most, Devon now does 100% of her banking with BayFirst. She credits the business relationships she developed and the customer service she experienced for her decision to move all of her accounts under one roof.
Business owners often face obstacles, but during the pandemic they were far more to overcome than ever before. For Devon, having a bank that went the extra mile made all the difference. BayFirst is proud to have helped her business weather the storm and to have served as a voice for her and many others every step of the way.
Do you need a bank that can help your small business in more ways than one? BayFirst is Here for What’s Next for you, too. And there’s no better time to consider an SBA 7(a) loan with us.
Get Started Today!