By Robert A. Vandenbergh
We all know it can be challenging to navigate in a tough economy, but it can also offer businesses new opportunities. Coyne Public Relations is a perfect example of a company that is focused on taking a proactive approach during an economic downturn. CEO Thomas Coyne believes in marketing more aggressively when everyone else is quiet.
While many businesses stayed put, Coyne PR proceeded forward. They turned to Lakeland Bank during the recent recession to discuss plans for investing
in their business. Lakeland Bank provided a healthy line of credit and Coyne went to work to grow the business. They increased their staff by 25%, including adding a number of senior level strategists. They launched a full-service digital practice and invested heavily in the firm’s systems and infrastructure. Coyne’s bold decisions paid off…they increased annual revenue by 33 percent.
To build on that momentum, Coyne moved their headquarters into a new office space with 36,800 square feet and an innovative design. Lakeland Bank provided a letter of credit for lease security as well as equipment financing for new office furniture and equipment.
With a team of experienced business bankers who understand the New Jersey market, Lakeland Bank makes it simple for growing businesses such as Coyne Public Relations
to access the financing solutions needed to compete effectively in today’s changing environment.
If you would like more information on commercial lending, give us a call at 866-224-1379
or stop by any of our office locations