Monday, November 20, 2006

There's a New Bank in Town

There's a new bank in town and a good chance that it is focused on providing business loans to the Latino, Indian, Vietnamese, Chinese, Cambodian or Korean business community.

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!

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