Farnsworth Development, a builder of active adult retirement communities, and the company’s sales and development arm, Springs Realty, have been intertwined with the Mesa community for decades.
President and CEO Craig Ahlstrom was involved with a variety of local organizations for decades, including United Way, YMCA, Mesa Chamber of Commerce, various City of Mesa committees and boards, and Central Arizona Homebuilder’s Association. After investing so much in the city for so long, his company needed help in return — and Gateway Bank was there to provide support.
Mesa’s bustling real estate industry has been impacted by the coronavirus pandemic, trickling down to business challenges for Springs Realty. When Congress passed the Paycheck Protection Program (PPP) in spring 2020, the company jumped at the chance for financial assistance.
Finding a PPP guide in Gateway
Although Springs Realty had their banking relationship with another institution at the time, Craig says,”Gateway stepped up when we needed a partner to help us acquire a PPP loan.” The application process was complex, but our team was by their side to navigate every step.
“I must say that, from my first call to Lauren [Leverette, Business Development Officer] until the closing with Scott [Morris, Vice President of Commercial Loans], the process went about as smoothly as any loan I’ve obtained with any bank,” Craig recalls. “I really felt they were genuinely concerned with helping us acquire our loan. It was a great feeling to know that these people were trying very hard to help us out.”
A long-term partnership fueled by passion for community
With Gateway’s guidance, Springs Realty closed on their loan just a few weeks after applying and received funds to help their team bridge the gap during this difficult time. Now that they have experienced the difference of banking with a local partner who is invested in the community too, the company is moving several accounts over to Gateway.
“There is a lot more to running a business than just making money. I feel there is a huge responsibility to give back as much as possible to make the place you live the best it possibly can be,” Craig says. “Gateway Bank has been a great partner with many of the community organizations in the East Valley. They have really tried to make a difference, not only in the business world, but in an effort to make the East Valley a really great place to live.”
And the feeling is mutual. Our team is proud to support Springs Realty and the Farnsworth Companies in keeping their long history in Mesa alive and making this an amazing place to live for the next 60 years and beyond.