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Recycling pioneer taps New Resource to grow
November 17, 2010
North Bay Steel Mill & Recycling began salvaging and reprocessing steel more than half a century ago, well before the modern environmental movement took off.
“It’s interesting that most people think only new businesses recycle or are sustainable,” says Mark Lutz, president and CEO of the pioneering Napa-based company. “We’re one of the few businesses that have been doing this for decades.”
New Resource delivers
So what brought a decades-old business with an established, relatively happy banking relationship into the New Resource Bank fold?
After three generations at the helm, the family that founded North Bay Steel was selling and the principals were retiring. With New Resource’s help, Lutz was able to buy out his partner and purchase the property using a Small Business Administration loan.
“I had heard good things about New Resource, so I gave them a call,” says Lutz, thinking, “It wouldn’t hurt to get another proposal for the loan we we’re contemplating.”
New Resource was much more responsive and better able to close loans than his former bank, Lutz says, adding, “A lot of banks have tried to get my business, but then couldn’t deliver on what they promised. Simply put, New Resource Bank delivers.”
North Bay Steel sees growing opportunities
Given North Bay Steel’s location and the wine industry’s growing environmental consciousness, wineries are a natural market for the company’s services. “From the stainless steel tanks to the stakes supporting the grapevines, there’s a lot of metal being used and recycled by the wine industry,” says Lutz.
He sees continued demand from the industry, and from a varied customer base ranging from small businesses to large industrial clients, municipalities to individual consumers. And he’s confident that New Resource will help him continue to take advantage of it.
“They’ve helped me grow my business,” Lutz says, “and they understand we’re not only an environmentally sound business, we’re a strong business as well.”
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