Continuing its mission

When arc Thrift Stores first turned to BOK Financial® in the early 2000s, it was during a pivotal time for the organization. The Colorado-based nonprofit—which supports individuals with intellectual and developmental disabilities—had been in a prolonged slide—and new CEO Lloyd Lewis was hopeful that the financial services provider could help.

And he wasn’t disappointed. BOK Financial helped ensure a successful turnaround for arc, providing it with a tax-exempt $8 million loan that gave the organization the sound footing it needed.

It wasn’t the last time that BOK Financial stepped in when the future was in doubt.

In 2020, when the Covid pandemic threw the U.S. economy in flux, arc lost millions in expected revenue almost overnight, putting both operations and its mission at risk. To make things worse, arc was ineligible for early federal Covid relief programs.

Again, arc’s longtime banking ally moved quickly. BOK Financial arranged a $12.5-million line of credit (later increased to $14 million) that gave arc the liquidity it needed to stabilize and continue serving its community. “It was a very uncertain time for us, but due in part to our relationship, we quickly grew confident we would survive,” said arc CEO Lloyd Lewis.

The relationship between BOK Financial and arc has extended beyond moments of crisis, as well. Over the years, the financial services provider has continued to provide steadfast support and guidance while arc has worked to build and sustain its impact. Today, the nonprofit has more than 30 stores in Colorado, where it employs more than 400 individuals with intellectual and developmental disabilities.

And it’s poised to expand further. Lewis said he’s actively exploring possibilities in other states while aiming for three to five new store openings per year. Although each new location comes with its own operational and logistical challenges—as well as the unique workplace regulations that can be expected in any new state—he’s thrilled to further broaden the organization’s impact on local communities.

Wherever expansion takes arc next, one thing is certain: BOK Financial will be ready. “Part of any business success formula is having a good banking relationship and we certainly hit the lottery with BOK Financial,” Lewis said.