Heidi Mitchell is a Partner at Prentice Partners of Ann Arbor, LLC (Prentice Partners). Located in Ann Arbor, Michigan. Prentince Partners acquires, renovates and leases multi-family residences in the city’s Lower Burns Park neighborhood. The company also acquires single family homes for the purpose of performing upscale renovations followed by resale in the same neighborhood. Currently, the company has two partners and two employees.
OSB recently asked Heidi about working with a community bank like OSB. Below she shares how it has helped Prentice Partners build on their success:
OSB: When did you first begin your relationship with OSB and how has working with OSB helped Prentice Partners achieve its goals?
Heidi: Our business associates referred Prentice Partners to OSB after we had completed our first two multi-family renovations. We were outgrowing the offerings of our first banking group and wanted a lending partner that could help us build on our early success and achieve our business objectives.
OSB has filled that role and more. They provide us with competitively structured portfolio lending for acquisitions and capital expenditures. The commercial lenders at OSB are skilled and reliable business partners who have provided expert guidance to us along the way. OSB has helped us to quadruple our portfolio net equity since we have started working together.
OSB: What do you think is the biggest difference between working with OSB versus a regional other commercial lending institutions?
Heidi: Our partners at OSB talked about and demonstrated that they conduct business based on the idea of value creation. This requires a level of understanding and service that other banks don’t offer. We evaluated other banking partners during this process but they all lacked the approach we were looking for. We have been very pleased with decision we made to bank with OSB. Overall, our experience with OSB has been outstanding
OSB: What would you tell other business owners who are looking for a commercial banking and lending relationship?
Heidi: Take the time to understand how your bank and lender is going to leverage your brand, your assets and your skill sets to help you achieve value. These returns will strengthen your foundation and open new avenues for meaningful growth.
While many banks focus on solely the dollars and cents of a commercial loan transaction, at OSB we look beyond the numbers to learn about the amazing people who have a real passion for building our community, like Heidi and her team at Prentice partners. OSB can help your business grow, too. Contact our commercial banking team today.