“What attracted us to Phoenix Precast was the ability to bring their landscape products into Dallas and to take our related products from Dallas to Phoenix. We saw a massive opportunity,” said TNT Group co-founder Todd McGlothlin.

Going the extra mile
However seizing this opportunity would take $6 million and a financial services firm that was willing to go the extra mile for the young business owner. McGlothlin and his uncle and mentor, Mike Sutphin, came by referral to Bank of Texas, where they met Jamie McMullin, commercial banking team lead for the Dallas market.

TNT’s McGlothlin was unfamiliar with the SBA (Small Business Association) loan process, so one of the first steps was explaining how it works, McMullin said. He also worked with TNT Group as they transitioned to a new accountant, who helped TNT get its financial statements in order for the loan process. “I worked harder on this deal than any other because there were so many factors,” McMullin recalled.

One of the challenges was the fact that Phoenix Precast, the company they would be purchasing with the loan, was based in Arizona, while TNT was based in Texas. As a result, TNT and Bank of Texas had to use a Certified Development Company, or CDC, in Arizona. A CDC is a nonprofit organization that promotes economic development within its community through 504 loans. McMullin even flew from Dallas to Phoenix to meet the seller of the company that TNT would be purchasing.

Ultimately, purchasing Phoenix Precast required two SBA loans—a 504 to purchase the building in Phoenix and a 7a for purchasing the remainder of the business. Bank of Texas guided TNT through the process, making sure that they always knew what was happening and the options available to them. “There were tons and tons of questions because this was such a big purchase, so I was available from 5 o’clock on in the morning until 10 o’clock at night. Toward the end, we were talking four to five times a day,” McMullin said.

It was a level of dedication—and the fulfillment of a dream— that TNT’s McGlothlin said he will never forget. “This particular deal was so complicated. That fact that Bank of Texas was able to get it done just left me absolutely humbled and grateful. It’s taken my business to a whole other level.”

More leaps ahead-together
Over the past four years, demand for TNT Group’s services has increased dramatically, and Bank of Texas has helped them respond to this growth. For instance, about three years ago, TNT realized that they could increase their daily production by investing in more equipment, so they took their plan to Bank of Texas.

“I said if we could buy 100 metal tables that stack, a couple of new mixers, and a Bobcat, we can do this,” McGlothlin recalled. “And Bank of Texas gave us another loan to go and do it. Then, when it was time for TNT Group to apply for PPP loans, Bank of Texas truly went above and beyond, McGlothlin said. “Jamie was working Saturdays and Sundays. He was right there with us in the trenches.” As a result, TNT Group was able to get five PPP loans altogether for its different businesses.

McMullin, meanwhile, applauds McGlothlin’s ambition. Even before TNT Group had closed its purchase of Phoenix Precast Products, McGlothlin was already thinking of where and how TNT Group could expand next. “Todd’s a go-getter,” McMullin said. “If you give him options, he’ll run with it.” In turn, as McGlothlin’s ambition has propelled TNT Group forward, Bank of Texas has been there every step of the way. In McGlothlin’s words: “They care; they’re willing to listen; they’ll look into the details, and they won’t give up.