The Provident Presents at New England Business Association 

Senior Executive Circle Workshop

 
 
Photo: From L-R: Karim Hill, President and CEO of New England Business Association; Leanne Spees, SVP International Finance, The Provident Bank;
Brent Mathews, SVP Commercial Lending Officer, The Provident Bank

 

 

(AMESBURY, MA., June 10, 2019) – The Provident Bank was pleased to present to businesses owners and executives at the New England Business Association’s Senior Executive Circle Workshop on June 6th.

 

Brent Mathews, SVP, Commercial Lending Officer, discussed with New England Business Association executives the importance of Earnings Before Interest Depreciation Taxes Amortization (“EBIDTA”) value to a business and how it relates to mergers and acquisitions. Mergers and acquisitions is a specialty lending focus of The Provident. The bank’s experienced lenders have financed entrepreneurs buying small to medium sized businesses and helped Owner/CEOS successfully build enterprise value and transition out of their business.

 

“Whether you are a buyer, a seller or a “keeper”, knowing the value of your business is valuable,” explains Mathews. “’EBIDTA’ is a shorthand way of understanding your business’ financial performance and what it might be worth, almost like keeping score. This is important information for anyone who wants to grow, buy or exit their business.”

 

Leanne Spees, SVP, International Finance, spoke to New England Business Association executives about the International Financing Options available to them, and how they can work with their bank to finance export activities and increase profitability.

 

“Many businesses don’t realize that by exporting their goods and services, they can increase their bottom line,” comments Spees. “There are fantastic programs available to assist them through their local state and government agencies. Businesses should be able to work with their bank to secure the assistance they need to obtain export financing and increase profitability.”

 

New England Business Association (formerly Smaller Business Association of New England) is a non-profit organization established to provide a legislative voice for small businesses at the state and federal levels, and to make practical information available to help business owners grow their companies.

 

“Several times a year, we bring together a panel of business experts to discuss critical topics affecting business owners today,” comments Karim Hill, President and CEO of The New England Business Association. “We were grateful to have The Provident Bank present to our members on the topics of mergers and acquisitions and export financing. With specialty financing in both of these areas, The Provident Bank is a valuable partner to our association, and to our members.”

 

New England Business Association has partnered with industry experts to create the Senior Executive Circle Workshop for C-Suite executives, with the goal of deepening leadership effectiveness by identifying factors that strengthen executive presence, effect positive change and impact organizational evolution. The June 6th event featured experts in the field of exit strategies, recruitment and licensing.

 

In addition to presentations by The Provident Bank team, Troy A. Merket, Partner and Senior Analyst – Real Estate at RSM, discussed middle market opportunity zones and their tax benefits. Mark Powers, Partner at Bowditch & Dewey and Jacen Dinoff, Principal and Co-Founder at KCP Advisory Group, discussed what to do when your customer, vendor or other party files for bankruptcy.

 

For more information about New England Business Association, visit: www.newenglandbusiness.org

 

About The Provident
The Provident Bank, a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC), is an innovative, commercial bank that finds solutions for our business and private clients. We are committed to strengthening the economic development of the regions we serve, by working closely with businesses and private clients and delivering superior products and high-touch services to meet their banking needs. The Provident has offices in Massachusetts and New Hampshire. All deposits are insured in full through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).