While we continue to hurdle the obstacles handed to us by this crisis, it is remarkable to watch certain leaders tackling new challenges and discovering hidden opportunities in the process. Read the “Lonely CEO” Column.
While we continue to hurdle the obstacles handed to us by this crisis, it is remarkable to watch certain leaders tackling new challenges and discovering hidden opportunities in the process. Read the “Lonely CEO” Column.
On the latest episode of the ABA Banking Journal Podcast, our CEO Wendy Cai-Lee discusses with Evan Sparks and Monica C. Meinert at ABA Banking Journal on how Piermont Bank is built to heal “pain points” for multigenerational family businesses.
The current crisis has validated Piermont’s goal to serve small to medium-sized businesses with borrowing needs between $1 million and $10 million. “Because we have a very clean balance sheet, strong capital position and cash position, we are one of the few out there actively doing new lending.
Our CEO Wendy Cai-Lee spoke with Christina Sjahli on Her CEO Journey podcast: Reinventing How Banking Works for Entrepreneurs – The Journey of Wendy Cai-Lee.
My journey to build the first chartered bank in New York since 2008 (6:41)
Piermont Bank holistic approach to serving its clients (9:06)
Common struggles among women business owners (14:24)
The key takeaway of Paycheck Protection Program (PPP) (19:46)
Strong capital and cash position set Piermont Bank to actively offering more loans (24:02)
The type of financing offers by Piermont Bank (25:43)
The underwriting process to apply for financing at Piermont Bank (26:55)
A list of questions business owners must answer before applying for financing (28:02)
How a finance expert can help answer the questions raised by the bank (29:25)
The type of communication a lender expects from a borrower during any crisis (31:25)
Guiding a client to stress test the financial situation of the business (33:53)
Advice from a lender perspective to small business owners during COVID-19 crisis (36:28)
Listen for the podcast at https://www.christinasjahli.com/herceojourneypodcast/episode/4725e7b2/reinventing-how-banking-works-for-entrepreneurs-the-journey-of-wendy-cai-lee