Extending Trust and Expertise
Florence Bank gave Dr. Jonathan Bayuk and his physician partners a shot at success in 2014, and they turned it into a thriving allergy and immunology practice in three counties of the Pioneer Valley.
Back in 2013, Dr. Bayuk and four colleagues were part of a general physician practice with five offices in the region; it offered specialties from cardiology to primary care, but the allergists and immunologists agreed they were not benefitting from the more comprehensive firm as much as they would in their own focused practice.
“The bank did its due diligence, but it was a kind and gentle process,” says Dr. Bayuk, a doctor of osteopathic medicine and the president of Allergy & Immunology Associates of New England, LLC, or AIANE. “They provided the information and the support we needed. It was very smooth.”
Referred to Florence Bank by colleagues, the AIANE physicians met in late 2013 or early 2014 with Nancy Mirkin, Vice President/Commercial Lender at Florence Bank. “She helped us figure out the financials around what we’d need for capital and extended that capital and a line of credit to us that allowed us to get started,” Dr. Bayuk says. “Now we’re extremely successfully and have paid off most of the debt.”
“The employees live here. They know the people. That’s a huge benefit to small businesses in western Massachusetts,” Dr. Bayuk says. “I’ve always felt if I needed something from the bank, if I made a phone call, they would be there for us. We will continue our relationship with Florence Bank, even though we don’t need loans. Any small business needs the back-up of a bank.”