Two young workers in an office talking and smiling around a modern water dispenser, adjacent to superimposed Bottleless Nation logo
Two young workers in an office talking and smiling around a modern water dispenser, adjacent to superimposed Bottleless Nation logo

Bottleless Nation and Banking on Growth and Sustainability

A purpose-driven water solutions company grew to six different entities within one holding company with the support of a strong banking relationship

Overview

Bottleless Nation has found success as a purpose-driven water solutions company on a mission to eliminate plastic waste from the workplace. They have grown to six different entities within one holding company thanks to a strong banking relationship. First Financial Bank’s flexibility and creative problem-solving allowed the company to expand beyond basic office water distribution into sparkling and flavored water, manufacturing, and even assembly of their manufactured equipment.

The Problem

After nearly a decade in sales, Rick Veach embraced his entrepreneurial spirit. From underground fiber construction, to restaurants, and even building management, Rick relished finding unmet needs and efficient ways to meet them. In 2002, Rick returned to his roots in the office equipment space, where he quickly identified an opportunity to improve employee drinking water options in business accounts and by 2005 had entered that space. Years later, he is the founder and CEO of Bottleless Nation, the parent company of several entities dedicated to commercial ice and flavored sparkling and drinking water solutions, all promoting “bottleless” systems that use minimal plastic.

What started with one “bottleless” solution for office staff has now grown to a full product offering with options for small offices and Fortune 100 enterprises. The pace seems astonishing but makes sense once you recognize Rick’s ability to seize challenges and turn them into innovations and opportunities.

As an example, “During COVID, we were considered essential,” recalled Rick, "but our customers said they couldn’t 'touch the water'. During this time, the team came up with foot pedals to activate the equipment, so people didn’t have to touch the system to access water and ice. This helped with safety protocols and we grew 35%."

We needed a line of credit with an institution that would look at our vision." – Rick Veach, Founder and CEO

Rick’s entrepreneurial spirit kept him looking for other ways to improve or streamline. Bottleless Nation was already handling its own sales, servicing, financing, software, and billing, but when Rick noticed that Bottleless’s COVID solutions helped their manufacturer grow nearly 50%, he turned his eye to bringing manufacturing in-house. To finance this drastic shift in operations, Rick knew he needed a bank that would understand the growth opportunity.

"We needed a line of credit with an institution that would look at our vision,” explained Rick. Fortunately, he was already banking with First Financial Bank.

Bottleless Nation associate smiling and holding a clipboard near a modern water dispenser

Banking with First Financial Bank

The Veach family has a long and positive history with First Financial Bank. Rick and his children all hold personal accounts with the bank. Through various business endeavors, Rick has financed multiple buildings and real estate with First Financial, including Bottleless Nation’s newer office headquarters. The Veach family even turns to Yellow Cardinal to plan their long-term financial legacy.

Rick met with his Commercial Relationship Manager and laid out his vision. He hoped they would see the possibilities, despite the challenges inherent in manufacturing. With open communication and clear, long-term planning, First Financial Bank was able to support the journey, and it didn’t take long for Bottleless’s manufacturing entity to become a profitable enterprise that feeds all presales across the company.

“Working with First Financial Bank is easy,” said Rick. “And not easy as in they say ‘yes’ to everything, but as in you can logically explain the business case. They collaborate with you on what makes sense.” – Rick Veach, Founder and CEO

More recently, Bottleless has also taken on importing parts and assembly. This required developing a creative system around when costs hit the logistical line of credit. On paper, this was a start-up business within the larger business, but they were able to point to presales to show the need for the line of credit. Since then, they’ve doubled the line of credit thanks to their success at making the product.

Rick expresses deep gratitude for First Financial sticking beside him through so many changes. He values the way they have allowed him to make money while making the world better—reducing plastic and improving the workplace. He even created a charitable foundation: Bottleless Nation Charitable Foundation, which supports organizations and initiatives focused on reducing plastic production and waste, promoting environmental cleanup, and providing safe, clean water to communities in need around the world.

“Working with First Financial Bank is easy,” said Rick. “And not easy as in they say ‘yes’ to everything, but as in you can logically explain the business case. They collaborate with you on what makes sense.”