When the COVID pandemic hit in March 2020, the owners of Arizona Tile Company didn’t know where to turn. As a retail company reliant on in-person, in-home installations, business dropped dramatically as government stay-at-home orders were put in place.
“We tried to continue what little business we could, but we were panicked,” says Sheryl Daugherty, co-owner of Arizona Tile with her husband Cary. “It was really tough with wanting our business to survive and pay our employees. There were a lot of sleepless nights.”
They applied for a loan from the federal government’s Payback Protection Program at the bank they were with but received no response or assistance.
That’s when the Daughertys got an email from INB’s Lauren Hall, NMLS # 806339.
“Very early in the COVID crisis, we realized at INB how important it was to reach out to our community; INB CEO Sarah Phalen asked us to reach out to anyone we knew, to see if we could help,” Lauren recalls. “We recognized how quickly we could put money in our clients’ hands through PPP to help them keep their doors open.”
Making the Switch to INB
Within seven days, Arizona Tile had received the funding they needed to keep their doors open. And the Daughertys discovered the benefits of banking local.
“That was a pivotal point for us to realize we needed a local bank. We switched all of our accounts over, and now we’re really happy INB customers,” Sheryl shares.
Arizona Tile has a long history in Springfield, but that history first starts in – you may have guessed it! – Arizona. The Daughertys’ business began in Phoenix, where they were married, had children and first learned the tile business.
Cary started offering to install tile for floor companies – “and he told them if they didn’t like it, they didn’t have to pay,” Sheryl recalls. Cary started building the business and brand, then Sheryl integrated in later; today, they are fulltime co-owners of the popular Springfield-based flooring store.
Local Support = Thriving Community
The couple are avid proponents of small businesses and community. They have seen a shift in recent years as consumers want to do business locally and are more intentional about where they spend their money.
“Small businesses are the backbone of the community,” Sheryl says. “People do business with people, not companies. We try to make our customers feel like family - and INB is the same way.
“Everyone I’ve worked with in every department is friendly and feels like talking to your next-door neighbor,” she adds. “From technology assistance to payments, everyone is eager to help and seems happy to work at INB.”
INB strives to make our community stronger, and that’s especially true in helping local businesses thrive, Lauren says.
“What I love most about my job is the ability to provide support to our clients through a variety of services so their money is safe with us, and to help them and their business in whatever way we can,” she notes.
Arizona Tile Company has certainly recognized the value of a strong community bank with local decision-makers.
“I truly believe INB was a huge factor in us surviving the last year,” Sheryl shares. “I’m not sure we’d be here today if not for them.”
Watch as Sheryl Daugherty and Lauren Hall share this story.