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09.27.19

Client Story: Renewable Growth

Here’s how Atlantic Union Bank helped one of Maryland’s premier energy companies flip the switch.

Steve Welsh saw a huge opportunity sitting right in front of him, but he knew it would slip away if he didn’t get the right help.

A well-established contracting firm needed to spin off its residential energy business to concentrate on government and commercial projects. Steve, a proven business executive and entrepreneur, saw the immense potential in a residential-focused solar and renewable energy contractor.

“I want to buy this business,” Steve said to Rich Hunt, Commercial Banker with Atlantic Union Bank. “Can you help me find the capital to make it happen?”

Rich and team were there to help. It started with establishing the financing structure that enabled Steve to make the purchase and launch Standard Energy Solutions (SES) – along with the line of credit that provided his initial working capital. Rich also put together and led a team of advisors who helped Steve develop a business plan that took him through the startup phase and well into the initial growth of the business.

As Steve’s business grew, so did the partnership between SES and Atlantic Union Bank. Now the business covers not only Maryland, but Virginia, Delaware, parts of Pennsylvania and New Jersey. And Rich has been there as a consultant, supporter and friend every step of the way.

“I can very honestly say I would not be here without Atlantic Union Bank’s help,” says Steve. “It was the one decision that made everything else possible.”

Find out for yourself the difference the right bank can make. Contact our Commercial Banking team today at 443-577-0680.

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