■ Accounting , Banking & Law
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Investors Bank By James Vincenti , Senior Vice President , Market Executive of Healthcare Lending Group
Investors Bank is maintaining solid and supportive relationships with our clients in the healthcare and long-term care sectors as they adapt to the difficult situations caused by COVID‐19 . These essential , frontline facilities are progressing through the pandemic by adhering to the guidelines set by federal , state and local public health organizations to help mitigate the spread of the virus . At the same time , our clients are constantly monitoring and responding to changes due to the evolving pandemic . We have recommended that our clients work closely with their financial advisors as they access stimulus funds , grants and the increases in COVID-related expenses at their facilities . Since the onset of the pandemic , we have asked our clients operating long-term care facilities to submit a detailed questionnaire about their facility ’ s compliance with COVID‐19 requirements along with their
financing requests . This questionnaire also covers information about any advanced preparations being made to manage and respond to future potential outbreaks .
Banks have helped their clients navigate the bureaucracy of COVID-19 relief packages .
Lakeland Bank By Ron Krauskopf , Senior Vice President Head of Healthcare and Not-for-Profit Banking
We certainly changed our approach to serving them , but our advice to clients has not changed much during the pandemic . Because of our strong relationships with our customers , we were often able to anticipate their needs before they asked for help . We proactively reached out to the segments being impacted most and offered solutions such as deferral options , loans for emergency working capital and assistance with PPP applications . Our goal was to do whatever was possible to help keep them operating . By stepping up our level of commitment to these customers and speaking with them on a weekly basis , we gained a solid understanding of the challenges that healthcare professionals faced , particularly in the early days of the outbreak . This also provided us with a whole new level of insight to what is at stake in this industry . We always suggest clients have a strong relationship with a bank that has expertise in the healthcare industry because it makes all the difference when the unexpected happens .
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