PCD Network Solutions Inc.
For an IT company specializing in remote access, 2020 has been a year of rapid growth, not to mention opportunity. Eric Vail, president at PCD Network Solutions Inc., not only had to rise to the challenge of increasing demand to support their existing customers as well as new, but also navigate the Paycheck Protection Program process and continue to implement pre-COVID plans.
To get it done would take the right banking partner. While Eric and his team were happy with the bank that had serviced them for 25 years, that bank wasn’t able to help them move forward. That’s when Eric was introduced to our SBA division. Having a long track record with his current bank, Eric was hesitant to make the move but soon realized he could trust the experience and capabilities that First Commonwealth brought to the table.
"Our loan broker and corporate attorney said we needed to talk to First Commonwealth. Of the four banks we considered, the team at First Commonwealth was the only one I can think of that actually wanted to hear about the core of our business and what we were doing, instead of just looking at our financials,” said Eric. “They were interested in a true relationship with us which immediately put them at the top of our list.”
Through an SBA 7a refinance, Eric was able to free up working capital that has positioned his company to build out strategic partner initiatives that will expand what PCD can offer to its resellers, provide more access into their network and maintain all the security posture that clients need.
"Our banker's perspective throughout our entire process was that there wasn’t a single obstacle that we couldn’t overcome. That’s refreshing in banking, because usually you get thrown obstacles as a business owner that you have to overcome on your own.