Realising a vision
When BP petrol station owner Ben Dunn wanted to grow his network of stations, he turned to NAB banker Jean-Pierre Gortan for help, writes Valerie Khoo.
Business owner Ben Dunn owns three BP petrol stations in Sydney. Last year, Dunn wanted to expand his business, with a vision to add more petrol stations to his small network. However, even though he "grew up" working in petrol stations– managing his father's network of 10 truck stops – Dunn found it difficult to convince his previous bank to share his dream.
"As part of my growth plan, I wanted to refinance in order to refurbish one of my stations," says Dunn. "But my previous bank would only do it if my other stations guaranteed the loan. I wanted to keep all the businesses separate and didn't feel there was a need for this arrangement because I know each of my stations can stand on their own. That's when I went to NAB."
NAB Senior Business Banking Manager Jean-Pierre Gortan listened to Dunn's plan. "I decided to go into bat for Ben," says Gortan. "We had to negotiate through a complex agreement with BP, but we worked out a solution."
Dunn says he appreciated Gortan's belief in his vision. "Jean- Pierre was very proactive," he says. "I found him easy to talk to and he understood what I needed. He took an interest in my business instead of just being a banker who ticked all the boxes. He made suggestions about the best way to finance my businesses and I found that refreshing."
Dunn is pleased he switched to NAB even though he had been with his previous bank for 13 years. "I'm now looking to grow the business. In 10 years, I'd like 12 to 15 sites in NSW where I also own freehold the land the petrol stations are on," says Dunn.
Gortan says he enjoys helping businesses grow. "We can recommend different structures and offer a unique perspective," he says.
Ultimately, when the money and the deals are done, Dunn says it comes down to relationships: "The bottom line is that Jean-Pierre had faith in what I was doing."
Valerie Khoo contributes to The Sydney Morning Herald and is editor of Business View.