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| Urban pioneer King Shaw, shown here in front of King Plow Arts Complex, values The PrivateBank's "can-do" approach |
The PrivateBank’s real estate expertise saves the day
There were just too many reasons why his plan wouldn’t work.
Or so his bank kept telling him.
King Shaw, co-owner of King Plow Arts Center, had been part of the award-winning renovation that had turned an old factory near downtown Atlanta into trendy studio spaces.
Now he and his family wanted to sell a few of the units as condominiums and use the revenue to pay off the mortgage on the property.
But before they could do anything, they had to get permission from the giant bank that held the mortgage. And the bank wasn’t cooperating.
“When we sat down with their committee, they kept telling us all the reasons it wouldn’t work,” recalls Shaw.
“Then we met with The PrivateBank, and they told us all the reasons why it would work.” Randy Harris, vice president of commercial banking, and the management at The PrivateBank understood what Shaw sought to accomplish. And, with veteran developers on its board, the bank knew all about the vibrant market for lofts in Atlanta.
Soon, The PrivateBank was holding King Plow’s mortgage – and several of Shaw’s other accounts. He quickly realized that The PrivateBank was a world apart from his old bank.
“They’re in the business of supporting businesses,” Shaw explains. “They look at things from the perspective of helping to facilitate our growth.”
Shaw appreciates The PrivateBank’s responsiveness when he needs help. And he enjoys the extra ways the bank serves its customers, like having a courier pick up deposits.