When it comes to doing business in Washington, D.C., having a bank that knows the ins and outs of the federal government and its processes is a must.
That鈥檚 been key to the success of Tantus Technologies, an information technology and management consulting firm that supports federal agencies. It focuses heavily on working with agencies such as the Centers for Medicare & Medicaid Services, Department of Health and Human Services, and National Institutes of Health.
鈥淲hat EagleBank provided us actually was, over the course of several years 鈥� knowing or understanding where we want to be with respect to growth,鈥� said Raj Nair, chief financial officer and co-owner of .
That鈥檚 meant overcoming the spasmic nature of federal allocations.
Federal government: a financial landscape unlike any other
鈥淵ou might hear a lot about the government shutdown, the continuing resolutions, things of that nature 鈥� that actually restricts businesses鈥� in terms of cash flow and financial management, Nair told 草莓传媒 during our Small Business September 2024.
It鈥檚 something EagleBank is familiar with.
鈥淚f you are doing lending in this community, you have to understand the industry,鈥� said Eric Miller, senior vice president and C&I relationship manager at . 鈥淲e鈥檝e been working with the government contracting community at large for a long time through multiple events, whether they be government shutdowns, continuing resolutions or sequestration.鈥�
鈥淲e鈥檝e dealt with all that and helped our clients manage short-term cash needs or longer-term issues that have come out of those events,鈥� Miller added.
Setting a course for long-term business growth
Nair said that just as his company partners with the federal government, EagleBank treats them as a partner. Rather than being a strictly banking relationship, 鈥渋t is more of a strategic partnership in terms of where we want to be today, tomorrow, five years from now.鈥�
Tantus seeks 鈥渢o build strong relationships with their clients,鈥� Miller said. 鈥淲e do the same thing. But we want to do that through a higher level of service than some of our competitors are able to offer and a much more customized solution 鈥� one that鈥檚 tailor made to provide the company a clear pathway to what their goals are and what they鈥檙e trying to achieve.鈥�
Miller said EagleBank is not afraid to do a deeper dive for its clients than some other banks might.
鈥淥K, so you鈥檙e an IT services provider in the federal government: What work are you doing? How mission critical is it? What are your relationships with your customers like? How entrenched are you there? Things like that,鈥� he said. 鈥淲e鈥檒l take the extra step to really understand the business model.鈥�
Nair and Miller are also ready for whatever lays ahead.
鈥淭here鈥檚 always uncertainty,鈥� Nair said, pointing to things such as the upcoming election. But in the long run, 鈥渢he federal government is going to be here.鈥�
To discover more insights for entrepreneurs, startups and SMBs shared during 草莓传媒鈥檚 Small Business September, click here.
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