VICE PRESIDENT OF FIRSTBANK | Brenda Chairez-Moreno
A STRONG FINANCIAL RELATIONSHIP: KEY TO ACCESSING CAPITAL AND GROWING
By Brenda Chairez-Moreno, Vice President of FirstBank
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Starting your own business is an act of courage. Many people in our community dream of leaving job instability behind and building something of their own, but they face a common obstacle: access to capital.
Let’s think about Noel, a Latino entrepreneur in Phoenix, Arizona, who, in 2016, decided to go independent after years of experience in construction. Like all entrepreneurs wanting to make their dreams a reality and carry out their vision, he sought financial support from various institutions. This entrepreneur was met with closed doors.
More than an account, the bank should be a partner
Thanks to the relationship Noel had built with a FirstBank loan officer—who recognized his potential and advocated for him—he was able to obtain the financing needed to launch his business. Today, Noel has founded multiple successful companies, creating jobs and strengthening his community.
According to recent data, nearly 38 percent of small businesses in the United States close their doors because they are unable to obtain the additional financing they need to stay afloat and grow. That’s why it’s not just about where you deposit your income, but with whom you build your business journey.
What should you look for in a bank if you have or plan to have a business?
One that understands your reality
The best bank is the one that knows your community, your industry, and the unique challenges of being a Latino entrepreneur in the United States. That understanding translates into better solutions and personalized advice.
Reputation and track record
Consult with other local businesses: who do they work with and why? Hearing the experiences of other entrepreneurs can give you clarity when making a key financial decision.
Tools that simplify your daily life
Reliable digital banking, available customer service, and solutions like Treasury Management can make a difference. These tools help you organize your cash flow, payments, and billing without complications.
Access to experts
Having a representative who understands your goals and supports you over time is essential. They not only solve problems, but also guide you toward new opportunities.
Build your business with a bank that believes in you
Advantages of a strong banking relationship
Access to the capital needed to gro
From lines of credit to commercial property loans (including Owner-Occupied Commercial Real Estate —OOCRE— loans), having a trusted banking relationship can open many doors.
Less financial pressure
With the right backing, you can focus on growing your business instead of worrying about surviving month to month.
Strategic support
A bank that believes in your vision can help you find sustainable ways to expand and manage capital safely.
Final message
Entrepreneurship isn’t easy, but having a bank that understands, listens to, and supports you can make all the difference. At FirstBank, we believe in the power of small businesses and the impact they have on our communities. We are here to help you build what’s yours.
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Build your business with a bank that believes in you
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