Independent Banker - January 2019 - 69
CONNECTIONS
lenders. " This is a great sign that the
program is meaningful and having an
impact, " he says.
Another benefi t deCastro has noticed
is that participants have created
an informal network with each other,
sharing their own challenges, opportunities,
ideas and solutions during the
past year. " In fact, the fi rst class last
year went so well that the group wanted
even more, " deCastro says. " So, in addition
to scheduling a second class of new
businesses this year, we are considering
the idea of creating an alumni program
for business owners who were involved
in the program last year. "
This year's class, which launched in
October 2018, is also limited to 15 invitation-only
participants. " Anything
larger than this would be too diffi cult to
manage, " deCastro says. Both years, the
selection of 15 participants has been
based on recommendations from Gorham
Savings Bank's commercial bankers,
as well as from Neujahr and Brown.
" This year, we also added the pool of
participants from our LaunchPad program
and actually selected a couple of
participants in this group to be part of
the 15 that we ended up selecting for
the Forward with Funding program, "
deCastro says.
What's in it for the bank? Obviously,
the program has provided good publicity
and has created new opportunities
for business lending relationships
with participants. " However, while we
do hope that these businesses use our
bank for loans and continue to be very
successful, the main reason we off er the
program is that we know we are doing
something good for the community
[by] helping businesses succeed, which
is good for the overall local economy, "
deCastro says. " In sum, the participants
may not all become Gorham Savings
Bank clients, but we do know that they
are all Gorham Savings Bank fans. "
William Atkinson is a writer in Illinois.
" The first class last year went so well
that the group wanted even more. "
-Stephen deCastro, Gorham Savings Bank
Independent Banker - January 2019
Table of Contents for the Digital Edition of Independent Banker - January 2019
Table of Contents
Independent Banker - January 2019 - Cover1
Independent Banker - January 2019 - Cover2
Independent Banker - January 2019 - Table of Contents
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