For Alex Vaysberg, owning a business was a goal he set early on. “Ever since I can remember, I always wanted to have my own business,” he recalls.
That dream stemmed in part from Vaysberg’s experience as a first-generation American whose family emigrated from Ukraine when he was just 8 years old — and it became a reality in 2004 when Vaysberg founded All Industrial Electric Supply (AIES). The company specializes in switchgear, a broad term for devices that isolate and protect power systems, like circuit breakers, fuses, metering devices and relays.
In 2008, Vaysberg and his business partner Mike Feltsman acquired Consolidated Parts, a 50-year-old company specializing in similar technology designed for the alternative energy space. Soon after, they turned to Bridge Bank when they were seeking financing for a new property in Santa Clara, California.
“Our relationship with Bridge Bank started when we made a real estate purchase for our business. As we got to know the bank, they very much impressed us, particularly our relationship manager. Within a year, we had switched our entire banking relationship to Bridge Bank.”
Initially, Vaysberg recalls, he was a tough sell on the idea of a switch: “The reality of switching banks is very complicated — there’s a lot of work involved for a small business. Initially, we told our Bridge Bank relationship manager that the reasons were not good enough to switch. She sat down and very patiently listened, and within the next few months, she addressed those issues to make it worth our while. She custom-tailored a proposal that helped us make that decision.”
As Vaysberg and Feltsman’s business empire has grown into a nearly $80 million entity, Bridge Bank has continued to offer solutions tailored to their needs. They make use of lines of credit, term debt as well as owner-occupied and investor real estate loans.
Vaysberg says he has come to rely on Bridge Bank as a team member: “I look at our relationship manager as an extension of our business,” he says. “She really advocates for us with the bank, and there’s nothing that we have come to her with that she has not been able to deliver on. Whether it’s extending additional terms on a line of credit or making a real estate purchase, even if it was complicated or nuanced, she’s always figured out a way to get it done. Even though she works for Bridge Bank, I feel like she works for me. Bridge Bank is a true partner.”
And when it comes to core values, there’s a certain synergy with Bridge Bank as well:
“For our businesses, we’re customer-obsessed, and we believe in focusing on what our people and customers need to simplify their work. Our mission is all about simplification. That’s what Bridge Bank does, too — they really simplify our work.”