Kristine Singer knows a thing or two about the unforeseen challenges of running a small business. As the owner of Solo Salon, Singer returned to Chicago from a holiday weekend to find one of her two West Loop locations under water—quite literally. Her upstairs neighbor’s pipes had burst while she was away, and the flooding destroyed much of the studio space and its inventory.
That same week, her banker at Byline, Jennifer Cortese, happened to check in. Singer told Cortese her concerns about being able to cover payroll and replace inventory while she waited for the insurance claim to be processed and the damages repaired.
Because of Singer’s trusted relationship with Byline Bank, Cortese was able to approve and fund a working capital line of credit within 90 minutes through our streamlined process. These funds enabled Solo Salon to continue operating.
“I would tell anyone who is starting their own business to make sure they plan for financial support and reserves,” Singer says. “You need it for everything, and, trust me, you will not think of all of the details.”
At Byline, we understand that reacting to the unexpected is part of the job for any small business owner. We pride ourselves on building relationships with our customers so that we know the right solutions to offer when needs arise.
Singer says, “Building banking relationships at Byline is unlike my other banking experiences. They take the time to understand the big picture of the success you are planning for in order to support it.”
Helping keep Solo Salon “afloat” is one of the many ways we honor our relationships with our business customers.
Byline Bank offers a range of business financing solutions to help companies like Solo Salon meet their needs and ambitions. Learn more.