PROFILE
A FOCUS ON
MANUFACTURING
FOUNDED IN 1906, Donsco remained with
one bank until fall 2017 when they looked
for a different financing arrangement.
Head of Finance Dennis Atkinson and
President Art Mann Jr. were attracted
to Sterling National Bank’s asset-based
lending, financing that is key for a capital-
intensive business like the foundry. Asset-
based lending provides more leverage
and opportunity to look for expansion
and investment for crucial equipment
and upgrades.
“Donsco is an asset-heavy company,
with equipment, inventory, and real
estate,” Mann says. “Sterling understands
manufacturing, our valuable assets, and
the cyclical industry, and they’re willing
to work with us to rebuild.”
After the fire in June 2018, Atkinson
contacted their Sterling Relationship
Manager, Laurel Varney, Senior Vice
President of Asset-Based Lending. It was
going to be a tedious process to rebuild,
and Sterling was eager to help through
the journey. Varney and her team made
recommendations to get through the
rebuilding process, including bringing
in a forensic insurance accounting team.
“Sterling has been great to work with and
extremely supportive of Donsco through
this time,” Atkinson says. “They’ve been
with us every step of the way. We’re so
close to the finish line for the redesign
and rebuilding that will allow Donsco to
operate with greater efficiency.”
“STERLING
UNDERSTANDS
MANUFACTURING,
OUR VALUABLE
ASSETS, AND
THE CYCLICAL
INDUSTRY, AND
THEY’RE WILLING
TO WORK WITH US
TO REBUILD.”
— Art Mann Jr.,
President of Donsco Inc.
RANKED ONE OF FORBES' BEST BANKS OF 2019 // CONNECT STRATEGY SPRING 2019 // SNB.COM
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