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Podcast: Healing ‘Pain Points’ for Multigenerational Family Businesses

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.

Featured on CNBC: Here are five lessons that entrepreneurs can apply to their businesses, post-PPP

As we are trying to reopen our businesses, here are five lessons that our CEO Wendy Cai-Lee shared with CNBC for entrepreneurs to consider for their businesses post-PPP. “Aside from stress-testing themselves, entrepreneurs should understand the impact of their constituents,” said Wendy Cai-Lee, CEO of Piermont Bank. Read more on how it pays to have a local banking relationship, know a CPA and maintain a bank account for your business:

Deals: Rynarzewski and Gladstone of Piermont Bank place $8 million for Nassi of Buchanan Development

Craig Nassi of Buchanan Development LLC has closed on $8 million in financing for 65 Buchanan Pl. The financing was placed by Robert Rynarzewski and Andrew Gladstone of Piermont Bank. The subject is a newly developed class-A multifamily property containing 25 residential units, and three commercial spaces. The seven-story property also has 12 parking spaces.

Featured on Crain’s New York: Local banks rush in where big banks fear to tread

Piermont Bank are sizing the moment to help commercial real estate developers, owners and operators as big banks become timid in the shaky pandemic economy. “We’ve had a multitude of clients that were about to close deals with an existing bank,” said Robert Rynarzewski, head of commercial real estate at Piermont, “but the bank won’t return their phone calls. They’re leaving their clients at the closing table.”

Featured on The Real Deal: Right-sized Commercial Real Estate Financing

Today there’s more uncertainty in the commercial real-estate market. Many lenders are telling clients they are “waiting to see how the market will play out.” Challenged by growing defaults, lenders are focused on tightening structures across their client base.