Dan and Rachel Smoot saw great potential to scale a local sportswear imprinting facility in Newport, MN. In Advanced Sportswear, they noticed the opportunity for local communities to have a #STRONG21. Last September, they put their proverbial flag in the ground with a little help.
A Little Help From a Friend
In order to buy the 32-year-old business, the Smoots needed a little financial backing. Enter Village Bank. Dan Smoot reached out to Village Bank after a referral from Sunbelt Business Advisors. Ultimately, Dan and Rachel Smoot were referred to Tim Walker, SVP Commercial Banker.
Tim helped the co-owners attain a loan to buy the structure and business. The Smoots’ commercial banker helped them through the application process and even made it a comfortable and easy one. The business owners immediately felt welcome when they experienced the community values that the Smoots and Village Bank shared. Dan and Rachel also valued that Tim had their business vision in mind and would work to create a solution that was built for them.
With the help of Village Bank, the Smoots were able to end last year with the purchase of a great investment and set Advanced Sportswear up with the foundation for a fantastic #STRONG21.
Based in Community
Community is a big deal for the Smoots. As successful realtors, the Smoots know that community is more than a grouping of houses and businesses. Community is a group of people with a shared interest in developing a growth oriented and tight-knit infrastructure for future generations. Dan and Rachel are always striving to improve the community their own children are proud to call home.
In buying Advanced Sportswear, the couple knew that they would be supporting local schools and businesses and in turn, those schools and businesses would uplift the community. Since Village Bank had the same dedication to community as they did, the Smoots knew that they had found a bank that shared the same values and growth mindset. Village Bank ultimately supported both the Smoots and local communities in having a #STRONG21 through this venture.
Personal Banking Relationship
Dan and Rachel were looking for a commercial banker that would serve as THEIR banker. Someone who would answer their questions quickly and with their vision in mind. That position has been filled by Tim Walker.
The Smoots feel that their relationship with Tim is one of personalization, respect, and understanding. In fact, the Smoots have Tim Walker’s cell phone number.
"Village Bank is helping me have a #STRONG21 because they got me started...Sunbelt Business Advisors introduced me to a few banks, and Village Bank was the one I spent the most time with. I talked to other banks including a large bank that specialized in SBA lending. I didn't get the feel that their banker would ever be in my store or would ever be there to help me with the next transaction. [With Village Bank], I have Tim's cell phone number. That made me feel very comfortable. They just did a better job. I really feel like Village Bank is someone I can work with on this deal, and the next deal, and the next one," mentioned Dan Smoot.
With Village Bank, Dan and Rachel feel like they have a close relationship with their banker. Always, they have a dependable lending ear to talk through any financial questions they may have.
Set for a #STRONG21
With the purchase of Advanced Sportswear complete, the Smoots are looking forward to innovating their business. The real estate agents and small-business owners are looking at adding more products, designs, and lines to Advanced Sportswear’s inventory. In addition, they are focusing on customer service and finding more ways to best serve their customers. The couple has also looked at more ways to innovate their business and has recently expanded the business to an online store.