Building simple solutions
Hydro Construction | Fort Collins, CO
Hydro Construction has served the Rocky Mountain region as a family-run specialized construction business since 1974. Today, Hydro’s 60+ employees construct water and wastewater treatment facilities for many of the major treatment facilities throughout Colorado and the surrounding states from their Fort Collins home base.
What’s kept employee-owned Hydro Construction thriving for nearly 50 years? “We have a strong culture which we really hold dear,” says Stan Javernick, Hydro Construction President. “We’re a team-oriented, very close company. Our employees are our greatest value. When we bring people on board, our goal is for them to retire from Hydro Construction.”
In 2018, Commerce Bank teamed up with Hydro Construction to resolve the time-intensive challenges they faced with their accounts payable (AP) virtual credit card program. “Reconciling 400 entries a month on credit card statements wasn’t easy,” shares Mary Arnesen, CFO at Hydro Construction. When Mary and the team met with Commerce Bank, she knew they’d found an ideal solution.
“Commerce Bank worked with us personally to develop a program that would make it easy to reconcile,” Mary adds. “We went with Commerce Bank’s credit card system for that reason, but it has also made my life incredibly simpler.” On the AP side, Mary was pleasantly surprised with how much time and effort Hydro saved, while also getting an increase in revenue share for paying vendors with a virtual credit card.
Amid the uncertainty of COVID-19, Hydro Construction received several petitions from banks offering to help with their Small Business Administration (SBA) Paycheck Protection Program (PPP) loan. “Commerce Bank was the only one who followed up,” Mary shares, just one more reason why Hydro considers Commerce a true banking partner. “I felt like they addressed my personal concerns and walked me through the whole process.” As the Commerce Bank team worked to interpret the SBA PPP loan process, Hydro Construction had their questions answered, finding calm amid the pandemic’s chaos.
In the early phases of the PPP rollout, many aspects of the SBA loan forgiveness program were undetermined. Mary turned to Commerce Bank for help and received the timely response she needed. “They went directly to the specialists so we could get a definitive answer,” Mary says. “You’re not waiting three days to get a response. The response is always very quick so we can move forward.”
As many at Hydro Construction say, great collaborators make Hydro look good. “Commerce Bank takes all the pain points away,” Mary notes. “They make your life easier — they even take less time! That allows us to focus on other areas where we can bring value. Now that’s a true partner. That is what you’re looking for, and Commerce Bank has done a great job of that.”