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Power Engineering and Manufacturing's #STRONG21
From Idea to Thriving BusinessIn 1994, Power Engineering and Manufacturing (PEM) began as two guys with an idea and grew into a thriving manufacturer of control solutions and electric actuators. Growing from the ground up, PEM became known for thinking out of the box and engineering custom systems for their customers' diverse applications. To meet customization needs for their customers, PEM needed to find the right banking partner that could help them scale. The right alliance came in the form of a community business built by an entrepreneur for entrepreneurs. Finding the Right Banking PartnerIn 2002, Power Engineering and Manufacturing decided that a move to Blaine was necessary to build a blooming business. That move would require a bank determined to help PEM find and finance the building equipped for their growth. After partnering with a big bank for quite some time, the electric actuator manufacturer identified that a community bank may be a necessary change. Soon, Village Bank came into the picture and blew Power Engineering and Manufacturing away with their customer service. The local bank not only financed a building loan for a new manufacturing facility, but they also made it clear that they were there for their new customer for the long haul. The Village DifferenceWith Village Bank in the picture, PEM was able to focus on high volume manufacturing electro mechanical actuators that ultimately provided OEM manufacturers with the large quantity of parts that they needed. After all, Village Bank is all about building something special with their customers and putting relationships first. PEM found a bank that gets behind entrepreneurs and truly visualizes with their customers what their future holds. Jim Blesener, VP of Engineering, believes that PEM gained a business partner and a trusted friend in Village Bank right from the beginning. They are no longer small fish in a big pond, but a valued customer in a Village. "Village Bank goes to their customer's businesses and is very active compared to big banks. Every year they are at our office asking what they can do to partner with us. Village Bank has been very active in reaching out to us and learning what we are looking for as a company" mentioned Jim Blesener. Long-term Banking RelationshipVillage Bank helped PEM obtain information about SBA and other loans that helped the company survive and thrive in not only 2020 but also 2021. Villagers actively checked in with Power Engineering and Manufacturing and assisted them in achieving everything laid out in their evolving business plan. Jim Blesener has many go-to partners within Village Bank. Chris Schroepfer, VP of Credit Administration, is always easy to contact via cell phone. Even Don Kveton, CEO and Chairman of the Board, and Aleesha Webb, President and Vice Chair, are available when Jim needs assistance. The VP of Engineering feels that Villagers are professional and easygoing. As a future-focused community bank, Village Bank is small enough that they are always there for customers but also provide access to banking products that measure up to the ones of larger institutions. The Bank has also connected Jim to many contacts he has needed over the years for success. Set For a #STRONG21PEM feels that Village is a critical bank to have for growth in many ways. Many OEM customers have questions about working with Power Engineering and Manufacturing. Village Bank is always available to assure potential OEM customers that PEM has great integrity and provides evidence to showcase how well they take care of their customers. Business has exploded for PEM in 2021 with the aid of Village Bank. While the hardest obstacle for Power Engineering has been the availability of resources and growing lead times, PEM has had to persevere and get creative to solve problems as they occur. With adversity comes opportunity. Some of the largest OEM customers depend on Power Engineering and Manufacturing’s skill and expertise in electrical actuators because of their dedication to solid relationships with employees and customers. To support the operation of their customer’s businesses, PEM has learned to stay the course and keep lines running to maintain inventory. Having a strong support system makes a world of difference in times of difficulty, and PEM is thankful they have help from a community bank like Village Bank. Just like Power Engineering and Manufacturing, you deserve a #STRONG21. We’ll get you there.
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