Greer State Bank Delivers Financing Solution for the Formation of Blue Ridge Thermoforming
May 21, 2013
GREER, SC – May 21, 2013 – Greer State Bank announces the completion of a lending solution for Blue Ridge Thermoforming, LLC that provides funding for working capital, equipment financing, moving expenses, and additional capacity of a production line for the company. Blue Ridge Thermoforming is the result of a merger between PFC Systems and Blue Ridge Packaging. The combined operations increase the breadth of services and product offerings for their customers and business partners.
“We chose Tim Lincolnhol and Greer State Bank because of successful past experiences with them and their recognition of the market potential our merger represented,” says Jere Davis, CEO of Blue Ridge Thermoforming. “Tim and his team at Greer State Bank understood the total enterprise value that went beyond the equipment and inventory of the two companies coming together to form Blue Ridge Thermoforming. They were familiar with our financial histories, strong customer relationships, quality standards, and record of profitability. As a result, we were able to secure a financial lending solution that fit perfectly for our needs.”
The newly formed Blue Ridge Thermoforming company now has the ability to deliver custom solutions ranging from small, thin gauge plastic parts to large, heavy gauge thermoformed components, including medical device packaging; totes; trays; containers; returnable/reusable industrial packaging; and protective equipment cases. By consolidating their operations under one roof, this plastics manufacturer can provide a wide range of product solutions from a single source for added customer convenience.
“Greer State Bank helped us through every step of the process,” Davis continues. “Whenever questions or issues came up, Tim was there to provide an answer for us and found ways to adapt to our changing needs. Tim was just like a part of our team and served as a trusted advisor at every decision point.”
About Greer State Bank
Now in its twenty-fifth year of operations, Greer State Bank serves the greater Greer community with three branch offices and a fourth branch office in the Taylors community. Greer Bancshares Incorporated trades in the over the counter market and is quoted on the OTC Bulletin Board under the symbol GRBS. More information on Greer State Bank can be found on the company website at http://www.GreerStateBank.com.
