The long-standing partnership between EagleBank and K. Neal Truck and Bus Center is mutually beneficial, creating a relationship that fosters growth, stability and success.
Throughout the years, they have leveraged each other’s strengths and contributed positively to the local community in the Washington, D.C. region.
“We’re happy to say that we’ve been able to grow along with the company,” said Terry Beverly, a senior vice president and market executive with EagleBank. “The story with K. Neal is a story that we try to replicate with every client we have as we support businesses through their various life cycles.”
EagleBank is a provider of business, personal and commercial real estate banking in D.C., Maryland and Virginia.
Its deep understanding of the D.C. region enables the bank to provide custom-made financial solutions to local companies, offering specialized loans and flexible credit options to meet the business’s needs effectively.
“When you talk about how EagleBank has supported our company and our growth, they’ve been there side by side,” said Korey Neal, CEO of K. Neal Truck and Bus Center.
K. Neal is an award winning, full-service commercial truck and bus dealership with multiple locations serving Maryland, Washington DC, and Virginia. As one of two minority-owned commercial truck and bus dealerships in North America, K. Neal provides best-in-class service through its commitment to improving fleet uptime and integrating emerging technology as the transportation industry shifts towards zero emission vehicles.
“Whether it’s capital construction projects, expanding our footprint into new markets, or diversifying our product lines and service offerings, EagleBank has been incredibly supportive and consistent throughout the whole process,” said Neal.
Growing and expanding together
In 2019, EagleBank announced that it had signed a lease to expand into Prince George’s County, Maryland, with a Loan Production Office in Lanham.
It was the bank’s first office in the county, and it matched up perfectly with K. Neal as the company’s headquarters is also located there.
“That was huge,” Neal said, describing the bank’s expansion. “It allowed me to do more business banking right in my home store.” K. Neal’s headquarters has been a mainstay in Prince George’s County more than 60 years and the company remains steadfast in its mission and motto “‘Take Care of The Customer, Take Care of The Associate, And Reinvest Back into The Community’.”
Beverly said it was a positive development for everyone involved.
“When we expanded in 2019, we already had quite a few clients in Prince George’s County, so we felt like having an office there was going to help us better serve our existing clients,” Beverly explained. “We also found that it was a great way to reach additional clients.”
Neal played a significant role in helping with that goal.
“They have been a fabulous resource,” Beverly said. “They are a leading business in Prince George’s County, and they have helped us reach additional clients there.”
Not long after the bank expanded, K. Neal invested in the construction of a state-of-the-art new headquarters fully equipped with alternative fuel bays and electric charging stations in anticipation of transportation industry’s inevitable adoption of zero emission vehicles.
“That was an amazing project, and it really set us on a path to being one of the national leaders in electric commercial vehicles,” Neal said. “It really took us into the next chapter of our business life.” This year marks a new milestone for K. Neal with the first sale of an all-electric school bus and electric medium-duty commercial truck.
EagleBank stands out by being local and responsive
Neal has enjoyed a successful experience when working with EagleBank due to several key advantages that stem from the bank’s close ties to the community and its personalized approach to customer service.
Unlike larger national banks, EagleBank is known for its flexibility and quick decision-making.
When a local business needs financial assistance or has urgent inquiries, EagleBank is able to provide rapid responses and solutions.
“When you think about it as a business owner, you have market conditions and customer conditions that are always changing,” Neal said. “This is a very capital-intensive business that we’re in, and EagleBank has been able to support us along the way.”
Whether it’s offering unique loan structures, favorable interest rates or customized financing options, EagleBank can quickly adapt to a business’s requirements.
“The greatest separation between EagleBank and other banks we’ve worked with is about culture and values,” Neal said. “We take care of our customers, and that aligns with EagleBank very well.”
“They understand who we are,” Neal added. “We really feel individualized as a customer, which allows us to do what we do best.”
In working with a local bank, businesses can access banking services more conveniently.
Local bank branches are typically situated close to the business’s location, making it easy for business owners to conduct transactions and seek assistance without having to travel very far.
That level of personalized service ensures that businesses receive tailored financial solutions and prompt assistance whenever required.
“We’re not commercial truck experts, but partnering with an industry leader like K. Neal allows us to learn from them and help grow their business,” said Beverly. “Relationships are central to what our bank does, and this relationship that we have with K. Neal is a classic example.”
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