Small businesses need lots of resources to be successful, ranging from the best employees to the right location to the right advisors (attorney, accountant, insurance agent, etc.). One of the most important resource essential to small business success is its commercial lender, typically a bank. Businesses, like any operating entity, need a place to park their money and make it work for them. A depositary institution, however, needs to do more than just take your deposits- it needs to enable you to operate efficiently- dealing with the multitude of financial matters encountered on a daily basis. A good bank handles your checking and other accounts efficiently and in a cost effective manner. A good bank provides the variety of accounts which meet your company’s operating needs.
       A good bank provides support/ancillary services to serve your needs. And, perhaps most important to a growing business, a good bank is also the right lender for your needs. There are many great banks and lenders (bank and nonbank as well) active in the Long Island Region. One outstanding banking institution- homegrown- is Suffolk County National Bank, the commercial banking subsidiary of Suffolk Bankcorp.- recently recognized by the Long Island Development Corporation as Community Based Lender of the Year. This venerable Suffolk County institution has been serving Long Islanders since 1890, offering businesses a wide range of products and services along with its century plus worth of experience and knowledge. SCNB operates primarily on Long Island through 27 full service offices using a professional, well trained staff. It is an important part of the communities in which it operates including its headquarters area of Riverhead. SCNB contributes funding and staff time to many local charities and provides its own series of scholarships to local students. In addition to the normal business services such as checking, savings, cash management, investment, insurance plans, the bank offers a variety

of innovative loan products. It participates in the NYS Linked Deposit interest rate subsidy program. It provides funding under the Industrial Development Agency Program through Industrial Revenue Bonds and conventional financing. It provides loans guaranteed by the US Small Business Administration under the 7A loan program. And, it provides financing combined with the SBA 504 mortgage loan program. The bank’s commitment to the business and nonprofit sectors has been demonstrated by the increase of commercial loans of all types as a percentage of the bank’s loan portfolio. And it is this commitment which was recognized by the LIDC award.
       This past year, SCNB made 13 loans to businesses under the SBA 504 loan program where SCNB provided a 50% first mortgage loan, LIDC provided a 40% second mortgage loan and the business put in 10% to buy its own building. The combined conventional and 504 financing made a very affordable financing package for the businesses, enabling them to purchase their own facilities. SCNB is led by a distinguished board of directors, headed by Chairman, President & CEO Thomas S. Kohlmann. Kohlmann grew up in Setauket and started working at Bankers Trust, joining SCNB in 1991 as a loan administrator. He worked his way up through the ranks and now leads the bank. Kohlmann is known for his dedication to the banking industry and cutting edge approach to commercial banking.
       For the successful small business owner, choosing a commercial lender like SCNB as its financing resource makes sense- because of the variety of products and services offered, because of the bank’s commitment to the local community and businesses, and because of the bank’s willingness to be creative and go the extra mile to meet its customers’ needs. So, whether you are starting or growing your business, look for a commercial lending partner like Suffolk County National Bank- who can meet your company’s financing needs now and in the future.