Pacific Crest Savings Bank is a local, independently owned community bank. We’ve been delivering the highest level of customer service and expertise to our community for over three decades.
We are committed to helping you build your future as you live in the present. Whether you are an individual, a small business owner, or a real estate investor, we take that commitment seriously. Beyond offering a full suite of competitive checking and savings products, we also build specialized loans for multifamily, commercial and residential properties and offer construction loans for our local builders.
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Building Business: Arsene Construction Finds Tailored Financing Leads to Better Growth with Pacific Crest
Client: Arsene Construction
Arsene Construction never retraces its steps. Instead, the Seattle-based contractor relishes the challenge of creating personalized designs tailored to their clients. Form never sacrifices function; their spacious open floor plans lend themselves to flexible use. However, to match a practical realization to a client’s vision, Arsene Construction relies on financing that is every bit as personalized, flexible, and resourceful as they are.
In Pacific Crest Savings Bank, they found their match.
Arsene Construction was founded in 2007 by husband and wife business partners Harry and Alicia Arsene, as an extension of their shared lifelong passion for architecture and design. The business specializes in home renovations, remodeling for resale and new construction. As it has grown, notably amid tumultuous economic times, Arsene Construction has succeeded in meeting industry demand while keeping pace with a competitive real estate market. However, in the process of expanding their business, the couple quickly found that conventional, more rigid financing stipulations proposed by large institutions didn’t fit their less conventional, more inventive approach to business development.
“Working with Pacific Crest Savings Bank has allowed our business to grow exponentially.”
“Working with traditional institutions and private lenders, we found rates were too high and we faced too many restrictions on the type of financing that would allow us to take on more projects,” said Harry Arsene. “Frankly, they were limiting our growth potential and we needed a better solution than a ‘one-loan-fits-all’ approach.”
In 2012, the company sought to borrow against a newer property they had recently remodeled. Larger lending institutions wouldn’t entertain their applications due to a lack of seasoning on the property’s existing loan. Traditional lenders typically require a loan to be seasoned for six months to a year before considering a refinance.
After several unsuccessful attempts at finding a lender that would consider them, Arsene Construction contacted Pacific Crest Savings Bank. They submitted an application and soon the Pacific Crest lending team visited Arsene’s project site to evaluate their needs and assess the risk of the investment.
“After reviewing their credentials and meeting with Harry and Alicia, it was clear the company had plenty of credibility and their work had added significant value to the property in a short time. We were able to quickly approve financing and begin developing a relationship that would help Arsene Construction achieve its goals,” said Scott Gibson, senior vice president and lending manager at Pacific Crest Savings Bank. “We have an effective partnership with the Arsenes because their clear financial roadmap for growing their business fits with our knowledge of the local market and personalized approach to looking at all factors to come up with tailored solutions for our clients.”
For Arsene Construction, the relationship has yielded unexpected benefits, too.
“Working with Pacific Crest Savings Bank has allowed our business to grow exponentially,” Harry Arsene said. “Not only through financing, but their extensive experience in the construction industry is a significant asset. In one case, before we even knew ourselves, Pacific Crest advised us to build in a larger contingency for pre-work and foundation for a new project positioned on a steep slope. That type of insight is invaluable to us.”
“Their extensive experience in the construction industry is a significant asset.”
Just as Arsene Construction turns the dream homes of so many families into reality, Pacific Crest collaborates with Arsene to bring their financial and business goals to fruition, pooling their collective resources and expertise as they work together to build business in the building business.