With Charlotte known as the banking capital of the south, it makes sense that businesses in the area find capital access much easier. That’s certainly the perspective of PCI Group President and Co-Owner Chris Kropac. As part of a series for York County CEO, Chris offered his experiences as a testimony to this.
“Moving down to the south brought greater access to capital. It’s much different than in New York. Here, I say I’m a medium size fish in a medium-sized pond,” Chris said.
The company has strong relationships with both Wells Fargo and Bank of America, two of the most prominent banks in the country that have deep roots in the region. Bank of America has its headquarters in Charlotte. Wells Fargo, which purchased Wachovia, considers Charlotte to be its southeastern base. He noted that the company’s former banking partner in New York actually didn’t survive the 2008 crash.
Chris explained that Wells Fargo holds the mortgage to their office in Fort Mill and that Bank of America is their banking partner for a line of credit. “The banking choices in the area are grant, and the support is, too. When you don’t have to worry about financing, there’s less stress in running a business.”
