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Buddy System

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  • Posted on 13th Sep, 2022 16:16 PM

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This story appears in the March 1997 issue of Entrepreneur. Subscribe »

When Roy Williams Sr. needed a loan to start DepotServices in September 1996, he turned to New Orleans-based WhitneyNational Bank. After all, Whitney had served him well during the 20years he'd banked there as owner of AAA Tire Finishing, a tirefinishing equipment and supply company. When he decided to start asecond with his son Kirk, Williams knew his loan officerat Whitney would work with them to make it happen. And he wasright. Just a few days after applying, the partners got anequipment loan and a line of credit for their shipping-containerservice and repair company.

Good relationships have always been important in , butthese days, the relationship between banks and israpidly expanding as more banks offer cash programs,streamlined loans and convenience services to their small-businessclientele. At Whitney National Bank, for example, Williams andother small-business customers can do more than obtain loans andlines of credit; they can also take advantage of a host of servicesunder the bank's new Business Edge Banking program, which waslaunched in May 1996.

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