In celebration of Small Business Month, we’re highlighting the resilience of entrepreneurs and the partners who help them scale. For many small business owners, the leap from a vision to a fully operational reality hinges on one thing: having the right tools for the job. We sat down with Phil Silva, president of Ameris Bank Equipment Finance and a 20-year veteran employee, to discuss how the Equipment Finance team is streamlining the path to growth and why preserving capital is the "superpower" every owner needs.
Speed as a Competitive Advantage
Small business owners famously wear many hats, and when a critical piece of machinery or software fails, there isn’t a moment to waste, and replacement cannot happen fast enough.
Ameris Bank Equipment Finance is built for this exact pace. "We provide one-hour credit decisions along with ease and convenience in documentation," Phil explains, “so for equipment transactions for soft assets like software that are under $350,000 or hard collateral assets up to $500,000, the process is distilled down to a simple, one-page application.”
This speed extends through the entire lifecycle of the deal. By utilizing electronic documentation and a 24/7 Customer Portal, Ameris Bank Equipment Finance ensures that equipment providers are paid quickly, and entrepreneurs receive their equipment and can get back to work with minimal downtime.
The Golden Rule: Preserve Your Capital
When asked about the most common mistakes business owners make, Phil is direct when he says, “Don’t tie up your liquidity in equipment. Flexibility is key.”
"Precious capital should be used for running the business," Phil advises. Whether the economic climate is booming or uncertain, his recommendation remains the same, “use equipment financing to fuel growth.” By partnering with a respected, long-term firm, owners can acquire the latest technology—including emerging AI-infused solutions—without draining the cash reserves needed for payroll, marketing or emergency pivots.
The Power of the Ameris Bank
The integration of Balboa Capital into Ameris Bank has fundamentally shifted the resources available to small and medium-sized businesses. This evolution combines the agility of a fintech leader with the stability of a $28 billion asset institution.
Phil notes several key benefits for customers:
- Greater Capacity: The bank now supports smaller transactions as well as larger ones up to and exceeding $2 million.
- Competitive Rates: A lower cost of funds directly benefits the end user.
- Enhanced Technology: Continued investment in industry-leading tech ensures a seamless digital experience.
"Equipment financing has been around for centuries, but technology and AI will further enrich the relationship... while still providing that personal touch essential to a long-term business friendship."
Twenty Years of Passion
For Phil, this isn't just about spreadsheets and collateral. Having been with the company since 2006, he views his role as a calling. "I absolutely love what I do and who I am privileged to do it with," says Phil. "I truly believe I was born to do what I do. I feel blessed with a sense of gratitude."
As Small Business Month continues, Phil’s message to entrepreneurs is clear, “Invest in your people and your vision, keep your capital flexible, choose a partner you can trust for the long haul and secure the right equipment to fuel the growth of your company.”
Learn more about Ameris Bank Equipment Finance and how equipment financing can help meet your business goals.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
