We were introduced to Penn Station in mid-2020 and despite the pandemic, we have been learning more about your brand. We have met the Penn Station management team in-person, and look forward to building relationships with Penn Station franchisees.
Our bank is located in a small community just 2 hours north of Cincinnati, but we have a national reach. For all of our franchise loan customers across almost 30 states, we make regular customer visits to learn about each other and plan for growth.
Because of our interactions with the Penn Station management team, we believe our companies align in many ways, from our core values to our philosophies on growth. We are ready to invest in you, Penn Station franchisees.
Our goal is to finance in excess of $25 million with the Penn Station brand in the next 3-5 years.
We hope you will give us the opportunity to work with you. To get things started we want to offer you financing specials, outlined below.
Osgood Bank is headquartered in Western Ohio. We are both a traditional community bank and a national franchise lender. On the franchise side of the house, we typically work with small groups of franchisors, such as Penn Station, to establish niche financing programs for franchisees like yourself.
Each bank has their own lending approach. Large banks can be inflexible and their decision makers hard to access. Small banks provide better service, but focus on loans with real estate as collateral. Finally, there are hybrid banks that heavily promote SBA structures. While SBA structures can be attractive, they come with floating rates, typically have higher closing costs, and dealing with a government-sponsored program comes with its own set of headaches.
Osgood Bank is a niche bank that is very focused on franchise lending to only select brands. This allows us to spend more time with the brand as opposed to lending to many franchisors and never really getting to know any single franchise. By taking this targeted approach, we can offer more traditional loan structures rather than promote SBA products. Second, in the rare event that a franchisee struggles and needs to restructure a loan, we already understand their operation. This allows us to be more flexible and a better partner to you.
Our franchise team is comprised of roughly 15 people (lenders, credit, processing, and executive staff) who are dedicated to your success. Considering that the entire bank has 4 branches and 60 team members, our structure is flat enough that you will be talking with the decision makers. Our lending system leverages technology and an experienced staff currently serving customers in 31 states.
