Heartland Tire's #STRONG21
Just like Heartland Tire, you could have a #STRONG21. Let's get started!
Growth Through Strong Business Relationships
As a third generation tire dealer and business owner, David Mitchell, owner of Heartland Tire, has worked arduously to grow his business to a whopping 29 locations in Iowa, Florida, and Minnesota. The entrepreneur believes that this success was in part due to strong business relationships with partners who understood his visions and business plans.
Last year, when COVID-19 hit, many businesses like Heartland Tire were unsure what the future would hold. Business owners quickly experienced a decrease in cash flow and required help to make it past the challenges they experienced. To overcome his business's own challenges, David sought the help of his trusted banking partners that he felt could help him make it through 2020 for a #STRONG21.
Support from a Trusted Partner
David Mitchell knew that he could reach out to his banker for help navigating cash flow concerns after receiving years of support. In 2011, David had drafted a strategy to expand the business his grandfather had started in 1952. This strategy involved adding many more Heartland Tire locations through acquisitions. To fully realize his business plan, David knew that he needed a banking partner that understood his growth strategy. With the help of Don Kveton, CEO and Chairman of the Board at Village Bank, Heartland Tire found the perfect mix of banking strategies to make the plan a reality.
In 2012, his first acquisition of 6 additional locations went smoothly in part due to help from his bankers at Village Bank. In 2014, the Bank helped another round of acquisitions complete successfully for Heartland Tire.
It was due to this success that David Mitchell had previously experienced at Village Bank that made him reach out to his banker for help navigating the challenges he was facing in 2020. "We were a business that was extremely concerned about the pandemic. Our cash flow was cut in half due to COVID-19. With 29 locations, that's scary, because cash flow lasted for a much shorter time period. I contacted Village Bank right away. My banker brought up PPP loans and began helping me with that process. Heartland Tire was able to bring back employees that had been laid off, and this in turn helped our operations keep running. We were able to keep our people working which helped us to have a #STRONG21" David Mitchell remarked.
Long-term Banking Relationship
Heartland Tire's relationship with Village Bank began with business acquisition and real estate loans, but the partnership hasn't stopped there. The auto repair and tire supply company has maintained a relationship with Village Bank that continues to expand business growth. David Mitchell has appreciated that Don Kveton and Heartland Tire's banker, Kraig Kliber, SVP Commercial Banking - Market Leader, have truly taken the time to understand the intricacies of the business.
Village Bank has been creative and assisted in finding solutions that worked specifically for Heartland Tire and their active growth strategy. “We were looking for a bank that would take the time to understand what we were trying to accomplish. Our banker really took the time to understand our business. He understood the effect a bank statement would have on growth and partnered with us for that growth. We wouldn't have accomplished the success we have had without the help of Village Bank" mentioned David Mitchell.
Part of the Village for a #STRONG21
From the beginning, David Mitchell had written it into Heartland Tire's growth plan to focus on building with local banks and businesses rather than large institutions. For that reason, David appreciates that Village Bank is such a large part of his community. "Village Bank has partnered with us to support Hope 4 Youth. They have sponsored our golf event supporting the organization each year" noted David Mitchell.
Heartland Tire's owner has noticed that when he goes into any bank branch that Villagers know who he is. In fact, bank employees recognize his family members and employees as well. This is especially important to David as Heartland Tire is truly a family business. His wife, Polly, and children, Beau and Anne, all are a part of running the legacy business. He feels that Village Bank customers aren't just a number but are part of the Village community.
The community relationship David has with his bank helped him overcome many challenges throughout the years and has helped his business acquire many locations. In Village Bank, Heartland Tire found a banking partner that was easy to do business with and understood their growth plan. Ultimately, the Bank has helped David Mitchell and his business have a #STRONG21.
Just like Heartland Tire, you deserve a #STRONG21. We’ll get you there.