When it comes to doing business in Washington, D.C., having a bank that knows the ins and outs of the federal government and its processes is a must.
That’s been key to the success of Tantus Technologies, an information technology and management consulting firm that supports federal agencies. It focuses heavily on working with agencies such as the Centers for Medicare & Medicaid Services, Department of Health and Human Services, and National Institutes of Health.
“What EagleBank provided us actually was, over the course of several years … knowing or understanding where we want to be with respect to growth,” said Raj Nair, chief financial officer and co-owner of Tantus Technologies.
That’s meant overcoming the spasmic nature of federal allocations.
Federal government: a financial landscape unlike any other
“You might hear a lot about the government shutdown, the continuing resolutions, things of that nature — that actually restricts businesses” in terms of cash flow and financial management, Nair told WTOP during our Small Business September 2024.
It’s something EagleBank is familiar with.
“If you are doing lending in this community, you have to understand the industry,” said Eric Miller, senior vice president and C&I relationship manager at EagleBank. “We’ve been working with the government contracting community at large for a long time through multiple events, whether they be government shutdowns, continuing resolutions or sequestration.”
“We’ve dealt with all that and helped our clients manage short-term cash needs or longer-term issues that have come out of those events,” Miller added.
Setting a course for long-term business growth
Nair said that just as his company partners with the federal government, EagleBank treats them as a partner. Rather than being a strictly banking relationship, “it is more of a strategic partnership in terms of where we want to be today, tomorrow, five years from now.”
Tantus seeks “to build strong relationships with their clients,” Miller said. “We do the same thing. But we want to do that through a higher level of service than some of our competitors are able to offer and a much more customized solution — one that’s tailor made to provide the company a clear pathway to what their goals are and what they’re trying to achieve.”
Miller said EagleBank is not afraid to do a deeper dive for its clients than some other banks might.
“OK, so you’re an IT services provider in the federal government: What work are you doing? How mission critical is it? What are your relationships with your customers like? How entrenched are you there? Things like that,” he said. “We’ll take the extra step to really understand the business model.”
Nair and Miller are also ready for whatever lays ahead.
“There’s always uncertainty,” Nair said, pointing to things such as the upcoming election. But in the long run, “the federal government is going to be here.”
To discover more insights for entrepreneurs, startups and SMBs shared during WTOP’s Small Business September, click here.
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