Welcome to the GRBblog! Get to know GRB, Rochester's only locally owned and managed commercial bank. A commercial bank, but also a community bank, with an entrepreneurial spirit about everything we do. We're committed to Growing Rochester Business and making our community a better place to live and work.
The GRBblog is where we post bank news and information, stories about the great organizations we support, and share relevant local and national business news.
Dave Halladay on Business Refinancing
Chief Lending Officer Dave Halladay was quoted in an RBJ article about business refinancing. As interest rates begin to rise, businesses with variable rate loans are looking at refinancing to a fixed rate. The article examined the closer relationship commercial borrowers have with their lenders; it's much less transactional than for peple refinancing homes.
"A certain component of [refinaning] is interest-rate driven, but it really comes down to what's going on in an individual business and where they are in the business cycle," Halladay says. Since businesses' capital needs evlolve as they change and grow, it is imperative that commercial lenders are regularly connecting with their borrowers.
Read the full article here.