Angelo Perryman, president and CEO of Perryman Building and Construction Services in Philadelphia, came in search of a financial partner that can help take his company on the next level of its growth trajectory.
After 12 years in business and current annual revenues of about $10 million, he says, the company is in a stronger position to go after contracts and is ready to expand.
“We’re fast outgrowing our current lender. At one time we’d only do work within a 30-mile radius, then 60 and now 200,” said Perryman, who met with Brian Yoshida, an administrative vice president with M&T Bank .
M&T, which is headquartered in Buffalo, N.Y., actively seeks financing opportunities for women- and minority-owned businesses in the mid-Atlantic and West Virginia region, as well as firms looking to buy or sell, and has several units devoted to government contracting.
“We’re not looking to just bank the company. They have employees who live and work in the region and we have several different services they need. We’re also interested in deposits and their treasury management needs,” said Yoshida. “We look at how they take money in and pay money out, and try to figure out how we fit into that cycle.”
Perryman said that he was queried on the character of his business, what it does and how, its client base and projected need. M&T has the potential to assist with bonding, banking and real estate needs, he said, but sometimes you’ve got to do a bit of serial dating to find the right financial partner that can help your firm grow, so for now he’s keeping his options open.