Smaller banks help underserved business owners

Small and mid-sized banks are often where entrepreneurs turn when they fail to obtain business financing from larger institutions. Because their lending standards are often not as strict and their options are more flexible for business owners, these banks can prove to be an effective route for a company seeking to expand or obtain startup funding.

Smaller banks can be especially helpful for entrepreneurs unsure of where to turn for funding, such as those who have only recently arrived in the U.S. Immigrants often come to the states to follow their dreams and start their own businesses; however, they may find it difficult to get the lending they need to make such goals a reality. Some may even be wary of accepting loans from larger, traditional banks or assume they will be unable to obtain one in the first place, while others could be deterred by assuming no lender will understand their culture or language. This can lead to some business owners failing to expand or even get their company up and running due to a lack of capital.

Understanding service
Bloomberg Businessweek recently reported at least of five of the top 25 SBA national lenders are institutions are strongly linked to immigrant communities, providing business owners with attentive service and sometimes the opportunity to speak with an employee well-versed in an entrepreneur's native language. This gives newcomers to the U.S. significant potential to obtain loans from institutions that understand their culture, work ethic and potential to succeed in a community.

Besides being more willing to lend to newly arrived immigrants with hopes of starting a company and providing them with the understanding they seek, smaller financial institutions also offer those seeking loans the opportunity to have more flexible banking options, which can be necessary for those just getting a business off the ground and trying different strategies to ensure their company is a success.

However, small and mid-sized banking institutions can effectively serve business owners and entrepreneurs who are not a part of the immigrant community. With diverse client bases and multiple options for those seeking to open a company, these firms can provide most entrepreneurs with the assistance they need, in regard to loans, small business banking or even international banking.

Content presented by Bridge Bank, offering flexible, customized solutions for entrepreneurs.

Getting Started

Find your ideal banker:

Select any filter and click on Apply to see results

Featured Insights

After the financial crisis of 2008, risk management became a top priority for most businesses. Metric Stream, a...

An Employee Stock Ownership Plan (ESOP) can be an effective way to create liquidity as well as serve as a means to...

Self-confidence is a valuable trait for any CEO, but it should be blended with a willingness to accept help when it’...

The growth of U.S. exports is a trend that should continue along with a strengthening global economy, says a report...

Banks are increasing commercial real estate (CRE) loans at a rate...

Bizjournals.com reports on Sept 22 that existing home sales fell in August for the first time in four months as...

A new bill signed into law on Sept. 19,...

Every bank is going to tell a prospective client that they can serve their needs, but asking the right questions...

It doesn’t have to be a total loss when the bank turns down your request for a loan to expand your business. When...

Recent News

12/16/14
San Jose, CA – December 16, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
12/16/14
San Jose, CA – December 16, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
12/04/14
San Jose, CA –December 4, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/28/14
San Jose, CA – October 28, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/16/14
Conference Call and Webcast Scheduled for Thursday, October 16, 2014 at 5:00 p.m....
10/14/14
San Jose, CA – October 14, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/02/14
San Jose, CA – October 02, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
10/01/14
Bridge Bank's Holding Company Admitted to the Sandler O'Neill Sm-All Stars Class of...
09/03/14
San Jose, CA – September 3, 2014 – Bridge Capital Holdings (NASDAQ:BBNK), whose...
BusinessWire
07/28/14
NEW YORK--(BUSINESS WIRE)--Kroll Bond Rating Agency (“KBRA”) has assigned senior...

Twitter

Featured Insights

Featured Insight

After the financial crisis of 2008, risk management became a top priority for most businesses. Metric Stream, a...

Featured Insight

An Employee Stock Ownership Plan (ESOP) can be an effective way to create liquidity as well as serve as a means to...

Featured Insight

Self-confidence is a valuable trait for any CEO, but it should be blended with a willingness to accept help when it’...

Recent News

Banks are increasing commercial real estate (CRE) loans at a rate...

A new bill signed into law on Sept. 19,...

Twitter