HSM Packaging, a Syracuse based manufacturer of folding cartons and other packaging products uses its relatively smaller size in its industry to its advantage.
"We are small compared to some others so we know that we have to react faster and become a part of our customers' teams. We want to fulfill their needs and move quickly to do that," says Sheila Martin, a co-owner, with her husband Homer, of the business.
"We once got a call from a customer that came to us because their current supplier was frustrating them. After we began working with them, we got a call and our customer asked, ‘Is this how its always going to be?'. We thought they were upset but they were thrilled with what we could do for them."
When HSM began looking to move into a newer facility, they knew that the transition period would be hard because of the service their customers expected from them. "It took us two and a half years to complete the move to the new facility because we always had to keep one line running until we were completely moved in."
The new facility is almost twice the size of the old one and allowed HSM to expand and bring on some new employees. To expand capacity, HSM looked to purchase some new equipment which would allow them to move even faster. Working with Jeff Morrison of People's Capital and Leasing Corporation, they decided to put together a 504 loan application.
"As I was working through the details of the 504 loan with HSM, we looked for the proper partner and determined that NYBDC made the most sense for this project. We also found out that NYBDC had worked with HSM on some real estate transaction so they were familiar with the company and the situation," said Morrison. “That made it even easier for the customer."
"We had worked with HSM before so we understood the company and the business. They're a solid business with a good plan. We wanted to make sure we put together something that was responsive to their needs. We both like to move quick so it has worked well," said David Reaske, NYBDC's loan officer.
"Our experience working with NYBDC has been very positive. They are very cooperative and understood what we wanted to do. The process has been pretty pain free," said Martin.
"Our goal was to complete the move, get the new equipment installed and get it up to speed without any interruption of service. With the hard work and professionalism of NYBDC, our other banking partners and, especially, our employees, we were able to accomplish this goal," she added.
With the new press in place, HSM has been able to take on new business and hire 6-7 additional employees.
"The move took a long time but it enabled us to continue to turn work around for clients quickly so it worked for us."