Skyline Transport Group

September 2022

<p>Skyline Transport Group</p>

Customer

If you’ve wondered how Alaskan king crab legs get from the Pacific Northwest to customers on the Jersey shore, you can thank Skyline Transport Group. A family owned and operated trucking and logistics business based in Oregon, Skyline coordinates transportation and warehousing for customers needing pickup and delivery of goods across the country and across town. After long-haul shipments arrive in the eastern U.S., a key part of the business is filling the emptied trailers with several smaller shipments for the ride back west. The company staffs 120+ employees and sub-contractors whose duties range from dispatching to brokering deliveries to driving the trucks.

Challenge

Now run by a second generation of family members, Skyline Transport had outgrown their headquarters and trucking operations facilities, which are in separate locations. “One centralized building with enough space for offices, trucking operations and warehouse storage would greatly simplify our operations,” says CEO and owner Alex Panfilov. The trouble was, the Skyline leadership team couldn’t find an existing structure sized right for their company. As Panfilov points out, “It’s hard to find a building with enough loading docks that’s under 150,000 square feet, so the only answer was to construct one from the ground up.”

“At Skyline, having the right team in place has been key … and having the right type of funding in place for our growth has been easier thanks to KeyBank.” – Alex Panfilov, CEO/Owner, Skyline Transport Group

 

Solution

Through a recommendation by another family member in the business, Skyline called on KeyBank for its small business lending expertise. “KeyBank introduced us to the SBA 504 loan which allows for a smaller down payment of 10%, meaning we can preserve cash for other working capital needs,” says Panfilov. KeyBank stands apart by offering dedicated SBA lending resources from loan origination to finish. Panfilov’s Business Banking Relationship Manager at KeyBank acted as the main point of contact while a KeyBank Senior SBA Specialist took the lead on structuring the loan terms and facilitating the process. The KeyBank team first arranged for a construction loan that allows for minimal, interest-only payments up front. Once the construction is complete, the loan will transition into a 10-year fixed rate loan and KeyBank swap derivative experts will use their interest rate hedging skills to secure the best possible rate.

Results

Skyline Transport Group forecasts that their new 55,000-square-foot facility will be ready to open by year-end 2022. “Everything we do now and a whole lot more will be under one roof,” comments Panfilov. That includes a driver’s lounge, brokerage office, mechanic’s shop, refrigerated storage, secure parking and possibly a truck driving school, according to the firm’s ambitious CEO. Other KeyBank financial services like treasury management, merchant services and equipment financing1 are helping Skyline to grow. Says Panfilov, “If all goes as planned, we should be holding our annual company Christmas party in our new space.” Chances are freshly delivered Alaskan king crab legs will be on the party menu.

To learn more, contact a local KeyBank Relationship Manager or visit key.com/sbalocations.

To learn more about Skyline Transport Group, visit skylinetg.us.

1

This is designed to provide general information only and is not comprehensive nor is it legal, accounting, or tax advice. Key Equipment Finance is a division of KeyBank.

SBA loans subject to SBA eligibility. All credit products are subject to collateral and/or credit approval, terms, conditions, and availability and subject to change.

Key.com is a federally registered service mark of KeyCorp.

SBA Preferred Lender

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888-KEY4BIZ (539-4249)

Clients using a TDD/TTY device:
1-800-539-8336

Clients using a relay service:
1-866-821-9126

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Schedule an Appointment

Talk to a Branch Manager in your neighborhood.

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