Chaves can bank on SEED

Tim Chaves, assistant vice president-commercial lending with Bristol County Savings Bank, was named “Banker of the Year” by the South Eastern Economic Development Corporation. He was selected for the award from a pool of 21 candidates by SEED lenders based on the volume of loans he made in participation with SEED and for exemplifying the spirit of small-business assistance. Chaves, based at the bank’s Pawtucket branch at 215 Armistice Blvd., is responsible for developing new business, cross-selling the bank’s products and services, and assisting in the management of the bank’s commercial loan portfolio. Chaves resides in Boston.

What brought you to banking?

My first management professor at Boston University had retired from a long career in corporate banking at BankBoston. He became a mentor and looking back, probably steered me down the commercial banking path. I was fortunate to have a great internship in the credit department at Bristol County Savings Bank nearly a decade ago, and never left.

What do you find most rewarding about your job?

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Developing long-term relationships with my clients is definitely the most rewarding aspect. When you get to work with a group of individuals who run successful businesses in the community, knowing that you may have added some value or played a small part in their success is a very good feeling.

Can you describe your relationship with SEED?

Our bank has partnered with SEED as a 504 conduit for [more than] 20 years. SEED’s knowledge of the Small Business Administration 504 Program and the thoroughness and efficiency they provide throughout the application process, the authorization and the debenture sale, ensures that our clients have the best experience in obtaining an SBA 504 loan.

Why is it important to you to help secure financial backing for small businesses?

The business environment is constantly changing. Therefore, it is important that small businesses develop a long-term banking relationship with a lender who understands them, their industry and the challenges they face. There is a misconception that banking is transactional. However, the most successful small businesses are the ones who have developed a long-term relationship with a lender who will support them in both the good times and challenging times. •

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