April 3, 2024

industrial paper rollAs business owner Mike Stilwell puts it, “You won’t find another bank that gets it and makes it happen like Riverland does.” Mike is an entrepreneur and owner of several Minnesota businesses, including Mill City Paper, and has had a banking relationship with Riverland for nearly 10 years. Having had previous experience with several other regional banks as business partners, he appreciates having a bank that can handle complex business cases.

Revitalizing Mill City Paper with a Financial Boost

Things weren’t looking good for one of Mike’s businesses after he had sold it to a private equity company who effectively bankrupted it, and that’s when he reached out to Rick Huckle, Riverland Bank CEO, to see if he thought they’d be able to help.

Riverland came through in a big way. They worked with Mike to develop a loan offering for the distressed business, including a term loan and line of credit, giving Mill City the financial boost they needed to revitalize and begin to thrive. It was a complex project, and Riverland was able to offer increasing liquidity, allowing the business to see and take advantage of growth options along the way.

“The banking team’s ability and willingness to work through our complex structure and loan deal was a critical element to getting our project done and maintaining a good relationship with Riverland,” says Stilwell. Mill City Paper now serves the Twin Cities area as a unique paper product supplier specializing in high-quality, sustainable products.

A Trusted Partner for Growth

In comparison to prior banking relationships, Riverland offers everything Stilwell needs in a banking partner – and they are more of a “partner” than a bank, he says. Riverland’s support products and software, such as positive pay, are simple and user-friendly in comparison to others.

Riverland truly is an entrepreneurial bank who understands business and does what they say. A lot of other banks I’ve worked with claim that, too, but then fail to handle complex business cases like ours.”
– Mike Stilwell, Mill City Paper

Learn more about Mill City Paper.

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