Doug Megill understands that life sometimes brings unexpected events, having taken over the family business after the premature death of his father and founder of McLean Insurance Agency, Henry C. Megill, Jr. Although plans had changed, Doug remained committed to building upon his father’s success by upholding the agency’s founding principles: developing trust and creating partnerships with clients by representing their best interests. This customer-first policy has paid off as McLean Insurance has become an important resource for businesses, individuals and families in the D.C. Metro area.
To ensure the agency remains prepared for present needs and future expansion, Doug relies on VCB and its financing solutions. A working capital line of credit gives him flexibility in managing operating expenses, and an SBA-guaranteed loan has allowed for relocation to a more strategic location and larger office space. Doug says,“VCB lending helps us preserve our 38-year tradition and plan for progress as we help our clients protect what matters to them.”
McLean Insurance Agency’s President & CEO Douglas B. Megill
Fannon Fine Printing has made a big imprint in Alexandria. Founded by the late Jimmy Fannon, this family-owned business is celebrating its 40th anniversary this year. Fannon’s bond with the community combined with a commitment to quality have helped mark their success. Owner Mary Ellis Fannon and her staff consistently produce products that reflect old-world craftsmanship yet meet their clients’ expectations for state-of-the-art printing, earning them international honors and an impressive image throughout the printing industry.
When Fannon needed to press forward with new printing technology and business expansion, VCB Lending provided the financing. Mary Ellis says, “Our lender, Dave Stephens, understands our needs. No matter the size or scale of our plans, VCB provides solutions to keep our business fit to print.”
Fannon Fine Printing (L-R): Owners Mary Ellis Fannon and her son, Daniel, their dog, Guinness and Roland the printing press
Temple Baptist Church, having opened its doors 30 years ago, has outgrown its space for people, programs and parking. To meet the congregation’s needs, plans for relocation and expansion include a new church, school, library, auditorium and recreation fields. VCB helped Pastors David Pittman and Larry Wright with a revolving line of credit that eliminated the hassle of refinancing through different phases of the church’s rebuilding project.
Personalized financial solutions and faith in their VCB lender, Kevin Fastabend, are helping the pastors of Temple Baptist Church realize their mission. Pastor Pittman says, “VCB’s custom financing solution for our new church saved us time and worry.”
Temple Baptist Church (L-R): Senior Pastor David L. Pittman and Pastor Larry Wright
Dr. Caroline Huang and Dr. Giang Bach, realizing the shortage of endocrinologists in the DC Metro area, opened a practice in Arlington. Not immune to financing assistance, the doctors turned to VCB, who provided a term loan and line of credit as well as healthy financial advice. VCB also prescribed an Equipment Leasing solution for them to acquire an ultrasound machine, allowing them to more effectively help their patients.
The Endocrinology Group has grown with VCB’s financial support, recently welcoming another doctor and moving into a new, larger office. Throughout their practice’s development, Dr. Huang and Dr. Bach have always received great financial attention from VCB’s lending team and branch staff. According to Dr. Huang, “In our professional opinion, working with VCB has been a smart business decision for our practice.”
The Endocrinology Group (L-R): Dr. Caroline Huang and Dr. Giang Bach
McKean Defense Group partners Joe Carlini, Len DeStefano and Larry Burrill value building loyal, lasting relationships. They founded McKean to acquire and turn around a technical consulting firm in Falls Church, with a goal of delivering superior technology solutions for national security concerns. Faced with obstacles from debt to doubt, McKean found an ally in VCB’s Government Contract Lending division, who guided them through rebuilding credit and securing funds needed to revitalize the company.
With VCB’s support, McKean has emerged as a leading provider of IT and naval engineering solutions to the Federal and Department of Defense arenas. The McKean team believes joining forces with VCB is more than just a good business decision. Joe says, “Our VCB lender, Jeff Satterly, has been like family to us. He’s a true partner to McKean Defense.”
McKean partners pictured above (L-R): Joe Carlini CEO and Len DeStefano President
Driven, Inc. CEO, Ozzy Jimenez, with partners Elias and Christine Francis, sought lending options to help grow their litigation support company in Falls Church. While other banks wouldn’t budge on payment schedules, VCB tailored flexible working capital lines of credit and term loans to fit Driven’s needs.
VCB’s lending specialist provided them with funds not only to develop the proprietary, cutting-edge technology used to deliver E-Discovery services to law firms throughout DC, but also to allow them to expand their business to New York.
Driven, a service-oriented company, especially values VCB’s efficient and responsive customer service. Ozzy Jimenez says, “In short, VCB has been a business partner and vehicle for our growth.”
Amy Nichols and Mike Schlegel, partners in marriage and business, identified an opportunity to serve dogs and their busy owners, so they founded Dogtopia® (formerly Happy Tails Dog Spa), a full-service dog day care, spa and boarding facility in 2002 in Tysons Corner.
Like many business owners, Amy and Mike were greatly affected by last year's economic downturn. In fact, due to tighter lending parameters, their former bank limited Dogtopia's two revolving lines of credit right when they needed money the most to maintain operations and finance growth. So, Dogtopia's owners turned to a customer service-oriented community Bank, VCB.
Working with Amy and Mike, VCB was able to find the right solution for them by structuring a financial program to pay off their loan with their former bank and give them additional funds for Dogtopia's operations. VCB utilized the SBA's 7a Program, which received extra funding through the recent Stimulus Act and provided VCB a 90% SBA guaranty with no fees to either the Bank or borrower. This program lets VCB offer a more flexible repayment schedule, easing pressure on a business's cash flow during a tough economic stretch. By eliminating their fees, VCB helped Amy and Mike save approximately $15,000.
As a result of Dogtopia's success and the growth VCB proudly supports, Amy and Mike not only own the two original Dogtopias in Tysons Corner and North Bethesda, but they have also franchised their successful model in metropolitan areas across the country, for a total of 20 Dogtopia stores, including 4 in Northern Virginia. Learn more at Dogtopia's Web site.
Dogtopia pictured above (L-R): Amy Nichols and Griffin
