Subscribe for Updates

Sign up to get updates from Carter Cares delivered to your inbox.Subscribe

Long Term Business Partnership with Bassett Office Supply Strengthened by Paycheck Protection Program

Community CARE Posted on September 1, 2020

Carter Bank & Trust has a tradition of caring for the customers we’re privileged to serve. Nobody knows that longstanding tradition better than Bassett Office Supply. Their relationship with Carter Bank & Trust started at the very beginning when our first branch opened as First National Bank in 1974. It was then that Bassett Office Supply became a customer, as well as a vendor, supplying the branch with a variety of office supply needs. Over the years, the relationship has only grown stronger as both the bank and the company grew. Today, Bassett Office Supply still serves as the main vendor for all branch locations in a variety of office supply categories.

Over the years, Bassett Office Supply has continued to have close ties with the Carter family. A few years ago, Tyler Carter, grandson of the bank’s founder Worth Carter, Jr., became the main point of contact for the company as their Commercial Banker. With the unprecedented disruption of the COVID-19 pandemic, Manly Boyd, COO of Bassett Office Supply, attributed the relationship Bassett Office Supply had with Carter Bank & Trust as the paramount factor to securing a Payment Protection (PPP) loan.

“Tyler Carter was instrumental in helping us with the PPP process,” says Boyd. “When they first started the process, they used a third-party vendor and we weren’t able to get our loan in that first round.”

Despite the first-round disappointment, Boyd’s confidence grew during the second round due to the diligence and care Carter provided using an improved process developed and managed by the bank.  As a result, the second round attempt for a PPP loan was successful.

“It was helpful for us to be in a position to ensure that all of our twenty employees would still have a job for the next couple of months while we figured out what the impact of the pandemic would be,” he adds.

Bassett Office Supply was determined to keep its employees, regardless of their ability to get a PPP loan.   When the loan funded and proceeds were distributed, the financial cushion gave Boyd and the management team peace of mind. Luckily, the company’s ability to be agile and adapt to changing demands in the market also supported the vitality of the company.

“We quickly added product categories to adapt, especially personal protection equipment (PPE),” says Boyd. “We were quick to get into protective screens, masks, and cleaning supplies almost immediately.”

Bassett Office Supply takes pride in knowing they partnered with Carter Bank & Trust to take advantage of the PPP loan opportunity to protect its employees from financial harm.  They continue to look for opportunities to adapt and meet the needs of their employees and customers.  For example, they are focused on growing their technology offerings and finding innovative ways to cater to offices and facilities furnishing new working environments.  Much like Carter Bank & Trust, they’re focused on customizing solutions that meet the unique needs of their customers.

“We’re very appreciative of Carter Bank & Trust and our longstanding relationship,” says Boyd.  A dedicated leader, he doesn’t seek out promotional opportunities, but he was happy to share his experience to let others know just how much Carter Bank & Trust cares.

Learn more about how Carter Bank & Trust supports local businesses with a variety of commercial banking products and services.

Recommended Posts

Share This