Market Overview

Access National Bank Offers Support to Businesses Affected by Impending Government Shutdown

Share:

With the threat of government shutdown becoming more imminent by the
hour, Access National Bank ("Access" or "the Bank") is
doubling down on its promise to assist government contractors and other
businesses in the wake of political turbulence.

"Given the uncertainty of our elected officials passing a longer-term
budget, now is the time to see what pragmatic solutions your bank has
during a government shutdown," Mark Moore, President of Access National
Bank, said.

Clients of the Bank reported challenges associated with the 2013
shutdown, which led Access to adopt short-term adjustments in its
commercial banking options.

"Adjustments to conventional borrowing base protocol and modifications
to existing loan terms can ensure a continuation of cash flow," Moore
added.

The banking team at Access and its Middleburg Bank division work
one-on-one with its clients to reduce cash flow funding disruptions in
industry-specific segments. Government Contracting, in particular, is
the Bank's No. 1 industry vertical.

"Our role as trusted advisers is to be ready for anything," Adam Nalls,
SVP & Team Leader, Government Contractor Lending, for the Bank, said.
"Unfortunately, there's no ‘tried and true' roadmap to lead us there.
But, our staff has the experience to provide a more nuanced approach for
problem-solving."

Both Moore and Nalls encourage any business affected by impending
government shutdowns to contact its banking relationship manager to
discuss resolutions, questions, and concerns.

"Regardless if Congress and the Executive branch reach an agreement, the
looming dynamic underscores why businesses must feel secure about their
banking relationships," Moore said.

Access National Bank was founded in 1999 by professional bankers and
business people. It is an independent, nationally chartered bank based
in Reston, Virginia that serves the Greater Washington DC Metropolitan
area. In April 2017, the merger with Middleburg Bank (founded in 1924)
was completed, creating Virginia's premier bank with enhanced scale,
improved efficiency and a well-diversified business model. Access
National Bank is a subsidiary of Access National Corporation and trades
on the NASDAQ Global Market under the symbol "ANCX." Additional
information is available at www.AccessNationalBank.com.
Member FDIC.

View Comments and Join the Discussion!