We recently connected with Thais Sullivan and have shared our conversation below.

Thais , thanks for taking the time to share your stories with us today One of the most important things small to mid-sized businesses can do, in our view, is to serve underserved communities that are ignored by giant corporations who often are just creating mass-market, one-size-fits-all solutions. Talk to us about how you serve an underserved community.

For the audiences we work with, it’s vital my team and I reflect the identities of those we aim to work with. As many of the minority-owned businesses we are working with are Black and
Hispanic professionals, people can see themselves within us, which comforts them. Serving as
an advocate for minority-owned businesses, I approach my clientele with a service mindset and
an understanding of the adversity and financial vulnerability they may be experiencing. I know
they need support and guidance and that is what I work to deliver.

Awesome – so before we get into the rest of our questions, can you briefly introduce yourself to our readers.

Valley National Bank

National Director of Community Lending, Thais R. Sullivan, leads Valley’s community lending program, which services underserved businesses. Valley looks at potential rather than current size to determine how to drive long-term growth. Thais is an experienced Banker with a demonstrated history of working in the banking industry that spans over 40 years.

Any stories or insights that might help us understand how you’ve built such a strong reputation?

In my role as the leader of Community Banking at Valley Bank, we’re working with underserved communities who have likely not worked with banks to any great extent. These women and
minority owned businesses respond to trustworthiness and honesty.

It starts with following through on what you say you will do and delivering value. When I
commit, I keep my promise. I’ve worked in the South Florida market for 40+ years and over
time I’ve built the reputation that I am a person of my word. I also focus my initial interaction
with a prospective partner or customer by listening and educating them, so they understand
the process, what each step entails and the approximate timeline for each. Clear expectations
from the beginning and sticking with that further builds peoples’ trust.

Once the relationship with a client is established, my team and I serve as true partners and
share opportunities to elevate their business. For example, recently a personal contact at Palm
Beach International Airport, saw success as a minority owner operating her business from the
airport. Her positive experience made me aware that this may be a meaningful opportunity for
other minority owners. So, keeping my clients in mind, I shared the opportunities at the Airport,
in which they could apply if interested.

Can you tell us about what’s worked well for you in terms of growing your clientele?

Valley Bank’s Community Lending team aims to support businesses that likely don’t meet the traditional qualifications for lending. Building connections with these women and minority-
owned business owners is largely done through authentic partnerships and being active
members in the community. Partnerships with non-profit organizations like the Palm Beach
County Black Business Investment Corporation (BBIC) and the Small Business Association (SBA)
who are already working with these audience members provide a meaningful introduction to
people in need.

During initial conversations with businesses, my team and I identify areas of concern and create
a plan to build the necessary elements that will set them up as eligible candidates. We’ve
created a platform that simplifies business loan organization for businesses that are at least 12
months old. During this assessment, we explore how to provide a line of credit, term loan,
business credit card or other solutions. Remaining present with prospective clients as they work
to qualify for lending resources establishes a trusting foundation for a strong working
relationship.

Word of mouth is powerful and shouldn’t be underrated, especially when working to reach
underserved communities that may not be a part of established business networks that connect
to financial providers or consultants. Frequently it’s being upfront with who I am and what I do
that connects me with a potential customer. As an example, I was recently eating at a
restaurant in Alabama, and a staff member came to my table to ask how the food and service
was. During our brief conversation, I introduced myself and what I do, leaving him with my
business card. That exchange was shared with the owner who is interested in pursuing a
commercial mortgage to purchase the property housing her restaurant. I take every
opportunity to tell our story.  

Contact Info:

• Website: https://www.valley.com/
• Instagram: https://www.instagram.com/valleybank/
• Facebook: https://www.facebook.com/ValleyBank/
• Linkedin: https://www.linkedin.com/in/thais-r-sullivan-3a40407/
• Youtube: https://www.youtube.com/c/valleynational