Case Study: GEM-Ash Processing expands equipment financing and banking needs with Stearns Bank

GEM-Ash Processing finances $25,000 screener and expands equipment with Stearns Bank

GEM-Ash Processing, a Minnesota-based company that separates metals from incinerator ash, faced a challenge with its processing equipment. Smaller metal fractions were leaking into larger ones, and the company needed to finance a new batch screener to solve the problem. President Jerry Goodwald was referred to Stearns Bank by the equipment manufacturer for equipment financing.

Stearns Bank provided a $25,000 equipment financing loan for the batch screener. Impressed by the service, GEM-Ash Processing later financed a fork truck and a Caterpillar work truck through Stearns Bank when other lenders would not. This successful partnership led to the company moving its entire business banking relationship to Stearns Bank, which was able to understand its unique needs and create tailored products and accounts.

GEM-Ash Processing