Posted by: jillw in:
Smaller regional and community banks typically offer more personalized service and more direct access to key decision makers than the large national banks. And thanks to less exposure to the subprime mortgage mess than many of the larger national banks, smaller banks may be in a better position to lend to entrepreneurs. Yates eventually landed at Umpqua Bank, an Oregon-based bank, which gave Portland Spirit a $3 million loan last year. Yates says he has business, home, and cell phone numbers for Matt Stanley, his commercial banking officer, and speaks with him every couple of weeks. “They know us, and they have taken the time to understand all the ins and outs of our business,” says Yates. “That certainly wouldn’t have happened at a large institutional bank.”
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