Guy Reggev, co-owner of Crescent City Skilled Nursing, Inc.
First Bank is proud of its partnerships and support of business owners in the communities in which it serves. One such local business owner, Guy Reggev, co-owner and operator of Crescent City Skilled Nursing, Inc. in Crescent City, CA had the vision to buy and operate a nursing home facility.
“My partner and I had over 35 years of combined experience in the field,” said Mr. Reggev. “We knew we had the long breadth of experience and expertise to run and manage a skilled nursing home. Also, this area was certainly underserved as this type of long and short-term care wasn’t available within a 60 – 90 minute geographic area.” With convenient access near the hospital, Mr. Reggev knew they had a solid business plan.
However, Mr. Reggev and his partner found that larger financial providers they approached had stringent lending requirements and didn’t have the foresight or agility to provide the financing they needed. Although Mr. Reggev and his partner had been running their business successfully for several months, they were only leasing the property. After their landlord approached them with an attractive offer to purchase the property, they knew that’s what they needed to do to support their long-term growth plans.
“Rich Sutton, SVP at First Bank, did an excellent job of doing what he needed to do to meet our lending needs, as well as to meet the requirements of the Bank,” said Reggev. “Through our discussions and conversations, we worked together in a collaborative effort. Rich had the experience and out-of-the-box thinking we needed, as well as the credibility with his own organization, to make it happen.”
Mr. Reggev said our business truly appreciates First Bank’s family approach to banking. Poised for future growth, Crescent City Skilled Nursing, Inc. looks forward to a long future together with First Bank.