Kinsale Management Group provides professional services and strategic leadership to architecture, engineering, and construction firms, including MidAtlantic Contracting, Pro Power & Electric, and Z Con. With these four businesses all falling under the Kinsale Management Group umbrella, CEO Fred Chandler knew he needed a bank that could provide sound financial guidance along with flexibility.
Chandler initially started looking for a new bank when Kinsale’s existing bank no longer provided the flexibility he was looking for. Chandler was then introduced to Sandy Spring Bank. With a solid transition plan in place, he decided it was time to make the switch.
“I knew for a while that we needed a new home for our finances,” said Chandler. “Our previous bank simply wasn’t nimble enough to navigate our business structure, making it challenging for us to get to where we needed to be financially.”
Chandler needed to get cash flowing into Kinsale immediately to fund its rapid growth and support its four business lines. To help achieve this goal, Sandy Spring Bank was able to refinance a piece of Kinsale’s own property, giving Chandler a large sum of cash to invest in the business. The bank also provided a substantial line of credit to help with cash flow needs, giving Chandler the confidence to begin executing the company’s growth plan.
“In our line of work, maximizing cash flow helps to increase our bonding capacity. Having a solid line of credit and access to cash is critical for us to secure the bonds we need to take on new and larger construction projects,” stated Chandler.
Sandy Spring Bank also serves as a financial advocate and trusted advisor to Kinsale, most notably helping Chandler secure a PPP loan. His relationship manager worked with him through the application process to ensure he felt positive about Kinsale’s future.
“Sandy Spring Bank is a partner, not just a bank,” proclaims Chandler. “From day one, the team worked with me to craft a program that truly meets our business needs. While every bank has its limitations, Sandy Spring Bank was more capable and understanding of our challenges.”
Chandler concludes, “Sandy Spring Bank has been a critical component to our company’s success for nearly four years, and we look forward to a long-standing relationship.”
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