According to the LA Times, the specialized focus of these banks allows these lenders to establish a foothold against a crowded field of competitors that may have a larger array of banking products.
New, smaller banks continue to experience great success in California in particular - no California commercial bank founded from 1988 on has failed according to the Federal Deposit Insurance Corp - and there's no shortage of investors waiting to start another new bank in the state.
What's the secret of their success? Seems to be a focus on developing relationships with a specific target customer and being creative with business loan solutions that meet borrower needs.
Do you need help finding the right lender or telling your story the right way? Read "Matchmaking for Business Loans" and give me a call!
Related Tags: business loans, bank loans, LA Times, new banks, Premier Commercial Bank
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