When Adrian Roman, a Romanian professional soccer player, came to the United States, he had just $700 to his name. Sebastian Fagaras, a teacher from Romania, came with just $1,200. Both wanted to make a better life for themselves. Together, in 2007, they started Moonride/Voyager Express, which today provides transport services to the Big Three auto manufacturers, as well as a major grocery store chain and energy company.
Roman runs the business operation and recruits the drivers, while Fagaras oversees the maintenance of their growing fleet of more than 60 trucks. With help from Bank of America, they have grown their business significantly and overcome many of the challenges encountered by other trucking companies. By engaging various partners across lines of business, Bank of America Small Business Banker Ben Nolan said, “We were able to save them money, make money, and decrease a big part of the daily stress that comes with running a business of their scope and size.”
Ben and Bank of America care about us, our business and the City of Detroit.
For example, last summer, Nolan helped negotiate a refinance of their owner-occupied commercial real estate loan, which greatly reduced their interest rate, freed up cash flow and will allow them to pay off their property sooner than expected. The bank also approved funding for the company to add to their fleet of trucks and trailers, established credit cards for ease of purchasing replacement parts and better tracking of expenses, and introduced the company to new services like scanning checks to allow for remote online deposits.
The support Voyager Express has received from Bank of America is part of the bank’s larger commitment to helping small businesses succeed. During the past three years, Bank of America has hired nearly 1,000 new small business bankers across the nation, offering the personal connection and expertise of people who live in, work in and are committed to supporting both small businesses and communities. In 2014, Bank of America provided more than $277.4 million in new credit to small businesses in Michigan.
The strength of Bank of America’s commitment to small businesses is evident to its customers. Fagaras says they are appreciative to the bank for helping them in more ways than one. He added, “Ben and Bank of America care about us, our business and the City of Detroit.”