Client in the News: Novus Medical Detox | Bankers, businesses find ways to make funding connections | Tampa Bay Business Journal

View photo gallery (8 photos)


Kathleen Cabble

Kirk Burness is director of Novus Medical Detox Center in Port Richey. The company is tripling its size on its parcel of land. 


Editorial Assistant- Tampa Bay Business Journal

Trying to pin down a definite consensus on the state of financing for businesses is like trying to establish a consensus on the state of the economy. It depends on who one asks.

Business borrowers say financial institutions often make it tough to get a loan. Banks and credit unions say they are in fierce competition to loan money to stable companies with a strong financial position. Many agree, however, that the right partners can be found to make deals.

Lenders examined the disconnect between institutions and businesses looking to obtain funding at a workshop organized by Tampa City Councilwoman Lisa Montelione.

“In the very end of the workshop it occurred to us that there was a definite lack of communication,” Montelione said.

Montelione’s feedback showed a breakdown of communication between the banks and loan-seekers, but also among the banks themselves.

“Bankers came up to me and told me this was the first time different bankers had got together like this,” she said.

Now Montelione’s efforts are centered largely on education for both lenders and loan-seekers.

Stable and strong borrowers sought

Bankers such as Jim Ray, senior vice president for Platinum Bank’s loan production office in Clearwater, said every lender is looking to make a deal with stable small businesses.

“Banks, especially community banks, are looking for businesses that have been around six to seven years. Even if they’ve had a few rough years,” Ray said.

There are certain net-worth individuals that typically are better candidates to open businesses, like attorneys and doctors, Ray said. Even income-producing commercial real estate can be seen as a desirable financing candidate.

Ron Ciganek, senior vice president and commercial banking manager of USAmeriBank, said he’s still seeing a lot of caution on the part of potential borrowers, and not much loan demand, but strong borrowers have an advantage right now.

|View All…

Leave a Comment

Your email address will not be published. Required fields are marked *

Advice Disclaimer. This information is not intended to be a substitute for professional public relations or legal advice. Do not disregard professional legal advice or delay seeking professional PR or legal advice because of something you have read here. Contact an attorney to obtain advice on any particular legal issue or problem. Use of this Web site or any of its e-mail links do not create an agency-client relationship between JoTo PR and the user.