We’re here for the risk takers and the adventure seekers.

Blue and Gold Fleet Case Study

Client Since: 2011

“The only bank that was willing to look at our workout plan if we didn’t get the contract was Bridge Bank. After looking at the workout plan and deeming it a reasonable and viable plan, they completely discounted the downside risks if we didn’t get the contract. The other banks didn’t do that. The other banks looked at the downside risk as real risk, never bothered to ask about the workout plan and never bothered to ask us to walk them through it.” ~Taylor Safford and Carolyn Horgan, Blue & Gold Fleet

“When Bridge Bank came in, they introduced us to a large number of members of their team. Other banks just came in with a sales guy and one bank executive. We got to meet people that we were going to be involved with directly, right from the get-go. It was a different approach. It wasn’t just a vice president and a sales guy and that’s it.” ~Taylor Safford and Carolyn Horgan, Blue & Gold Fleet

“Bridge Bank approach was, let me ask enough questions to understand what your concern is and find a solution that both sides can be happy with. That’s a very different position than most banks operate from.” ~Taylor Safford and Carolyn Horgan, Blue & Gold Fleet

Founded in 1979, Blue & Gold Fleet is the largest ferry operator in the San Francisco Bay—transporting over 2.5 million passengers annually with a fleet of 17 vessels.

In 2011, they needed to refinance their existing debt, but were faced with a catch-22. They needed to refinance in order meet the criteria of a California State RFP. Without winning the contract, however, their bottom line would make it difficult to find a banking partner.

Where the larger banks saw financing and underwriting risks, we saw possibility. We saw a dedicated company with an excellent reputation and an opportunity to grow. We asked a lot of tough questions and they had answers, including a rock solid backup plan should the big contract not come through. 

Their situation was unique, so we worked with them to develop a unique agreement—even raising their capital expenditures so they could properly invest in and care for their fleet. And, of course, we were able to move swiftly (well over 50 knots) because they were working with our final decision makers—not middlemen.

We’re thrilled to say Blue & Gold won the California State Contract and is the sole provider of Bay Area ferry services for the next five years. It’s good for the future of Bay Area transportation as they hope to significantly expand their fleet and services to underserved cities. With the cooperation of the Water Emergency Transportation Agency, of course.

So the next time you ride the ferry, think of Bridge Bank. If that beautiful view gives you an idea for your business, call us. We can help.

Video: Client Highlight: Blue and Gold

How can Bridge Bank help you with your banking needs?

Fill out the form below and a Bridge Banker will be in touch soon.

 

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

While some economists and market watchers are fretting over the way crowdfunding and super angels are upending the...

First-time entrepreneurs launching their initial startup company are no doubt overwhelmed by a huge variety of...

Silicon Valley tech funding is venturing into unchartered territory.  According to the PitchBook 2Q 2015 PE...

By standard economic metrics, the country fully recovered from the recession in late 2013 when real GDP per capita...

Small-business owners are currently borrowing in record numbers. According to the most recent Thomson Reuters/PayNet...

Business leaders struggling to decide between raising debt vs. equity as the best path to growing their business...

From training staff to managing the company to working the books, small-business owners are constantly spinning...

There's good news in the big world of small businesses. According to the Kauffman Foundation's Index of...

Finding startup financing for a new enterprise or funding for a business expansion can be a challenging obstacle to...

Small business banking should be seeing a boon in the coming months provided trends continue if a recent...

Recent News

07/28/15
The Euro opened the week stronger within an overall risk-off context climbing from...
07/24/15
Well things have slowed down a bit in the currency markets this week with the Greek...
07/17/15
Another exciting week in the foreign exchange markets comes to an end today with...
07/10/15
While nothing has ‘really’ changed with the Greek situation, plenty has happened...
07/02/15
If you happen to be growing tired of ‘Grease’ lyrical references, imagine how tired...
06/30/15
PHOENIX - Western Alliance Bancorporation (NYSE: WAL) today completed its merger...
06/26/15
In a fairly uneventful week in terms of economic data, the Greek situation was at...
05/21/15
Michael Hengl and Ryan Banta to lead new teams at Bridge Bank San Jose, CA – May 19...
05/19/15
San Jose, CA – May 19, 2015 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
05/08/15
The US dollar has given up roughly 3.5% against the Euro this week and, with the...

Twitter

Featured Insights

Featured Insight

Business leaders struggling to decide between raising debt vs. equity as the best path to growing their business...

Featured Insight

Clarity can go a long way toward convincing an investor to buy a stake in your business. If you believe your company...

Featured Insight

Recurring revenue lending is an alternative form of senior debt financing that is particularly useful to growing...

Recent News

While some economists and market watchers are fretting over the way crowdfunding and super angels are upending the...

First-time entrepreneurs launching their initial startup company are no doubt overwhelmed by a huge variety of...

Silicon Valley tech funding is venturing into unchartered territory.  According to the PitchBook 2Q 2015 PE...

Twitter