Compiled by Brett Maxwell
Grow your business with an SBA loan
Work with the #1 SBA lender in the nation*
At Wells Fargo we’re committed to helping small businesses succeed. Our SBA loans can help you:
• Acquire a new business
• Expand your existing business
• Finance the purchase of real estate and equipment
• Meet capital needs
Plus, customized terms and payment options provide flexible financing options.
Make the most out of your business — contact us today
• Stop by a Wells Fargo location to talk with a banker
• Call 1-800-545-0670
(Monday through Friday, 7:00 a.m. to 7:00 p.m., Central Time)
• Visit wellsfargo.com/biz
Arizona Is Open for Business
Paul Hickman is the president and CEO of Arizona Bankers Association, the trade association for the banking industry in Arizona. AzBA represents banks of all sizes and business niches in the state, from the largest, global actors to the smallest, one-branch, rural community bank. Hickman acts as the chief spokesman and advocate for the industry in Arizona.
Congratulations to In Business Magazine on this first annual lending guide. In Business Magazine recognizes the importance of available capital to economic growth, and I commend the editorial staff in providing this information to the readers as a public service.
With nearly $85 billion in deposits, the Arizona banking industry has the resources and commitment to support the financial needs of individuals, businesses and all levels of government. In fact, Arizona banks distributed more than $11 billion in new and renewed consumer loans and more than $5.9 billion in new and renewed commercial loans in 2010 alone.
As an industry, the banking sector in this state has a pretty impressive economic footprint as well. Arizona banks, as businesses, employ more than 40,000 Arizonans across the state working in more than 1,300 banking locations in each of Arizona’s 15 counties.
As lenders, Arizona banks stimulate the economy by lending to businesses that will, among other things, use the capital to hire additional employees and purchase facilities and equipment. Banks also lend to consumers who will buy goods and services, and finance purchases of homes, education, cars and major appliances. Additionally, banks help state and local governments fund a variety of public improvements like schools, roads, water and sewer, and public health facilities.
As many In Business Magazine readers know, the economic recession and slow recovery we are currently experiencing has reduced loan demand. This has had the expected effect on price, and now is a great time to seek financing for capital expansion.
This lending guide is a palpable demonstration that Arizona is open for business and that we have a robust and dynamic banking sector ready, willing and able to lend. Thank you In Business Magazine for a wonderful job in aggregating and publishing this very valuable information.
Paul T. Hickman President & CEO • Arizona Bankers Association
About our Guide:
Funding is consistently among the top concerns shared by our readers. As part of our “Money” issue of In Business Magazine, our editorial staff has created the first annual Business Lending Guide. This guide is a listing of local lenders, contacts and resources that will assist business owners in finding lending opportunities. We contacted federally and statechartered banks, credit unions and selected other lenders and resources to provide information about the variety of loans or assistance programs they offer locally. This guide will be available online and through
our partner organizations through December 2012. Our list is compiled of institutions based here locally who responded to our questionnaire by press time. Please check the information, as contacts and phone numbers may change throughout the year. Many of the institutions have multiple locations throughout Arizona; this guide lists their main office in the Greater Phoenix area. To participate or advertise in our 2013 guide, please contact us at info@inbusinessmag.com or visit our website at www.inbusinessmag.com. © 2011 InMedia Company, LLC.
Business Lending Guide 2012
Banks
Alerus Bank
17045 N. Scottsdale Rd.
Scottsdale, AZ 85255
Contact: Rob Schwister
Phone: (480) 905-2407
Website: www.alerusfinancial.com
Types of Loans/Services: SBA loans, term loans, lines of credit
Alliance Bank of Arizona
2701 E. Camelback Rd., Ste. 110
Phoenix, AZ 85016
Contact: Karen Goettl
Phone: (602) 952-5400
Website: www.alliancebankofarizona.com
Types of Loans/Services: commercial real estate, term loans, construction loans, residential construction, construction, equipment, letters of credit, SBA loans, revolving lines of credit, business vehicle
Arizona Bank & Trust
2036 E. Camelback Rd.
Phoenix, AZ 85016
Contact: Troy Norris
Phone: (480) 844-4558
Website: www.arizbank.com
Types of Loans/Services: commercial loans, including lines of credit, equipment, real estate, construction
Arizona Business Bank
2600 N. Central Ave., Ste. 2000 Phoenix, AZ 85004
Contact: Toby Day
Phone: (602) 240-2700
Website: www.azbizbank.com
Types of Loans/Services: revolving lines of credit, term loans, letters of credit, real estate, SBA loans
Bank
1440
7010 E. Chauncey Ln., Ste. 120 Phoenix, AZ 85054
Contact: Mary Wells
Phone: (623) 334-6047
Website: www.bank1440.com
Types of Loans/Services: commercial term mortgages, business loans, construction loans
Bank of America, NA
201 E. Washington St. Phoenix, AZ 85004
Contact: Small Business Banking
Phone: (888) 287-4637
Website: www.bankofamerica.com
Types of Loans/Services: lines of credit, term loans, SBA lending
Bank of Arizona, NA
16767 N. Perimeter Dr. Scottsdale, AZ 85260
Contact: Business Banking Department
Phone: (602) 808-5331
Website: www.bankofarizona.com
Types of Loans/Services: revolving lines of credit, real-estate lines of credit, equipment or vehicle term loans, real-estate term loans, construction financing, equipment leasing, SBA loans
Bank of the West
9502 W. Van Buren St. Tolleson, AZ 85353
Contact: SBA Lending Department
Phone: (866) 306-7254
Put the best face on the loan application
Business owners seeking financing should have a written and welldocumented business and marketing plan. The plan should outline the strategy and tactics necessary to provide a return on investment that is able to cover the cost of financing.
In addition, a applicants should outline their experience, years in business and successful track record operating a business as well as assets necessary to secure the loan. Financial statements are also required. These are standard requests for those seeking financing, and will vary depending on the type of business and the existing relationship a business may have with a lender.
—Paul B. Stull Senior Vice President, Strategy & Brand • Arizona State Credit Union
Website: www.bankofthewest.com
Types of Loans/Services: commercial lending, equipment financing, SBA loans, commercial real estate, lines of credit, construction, agricultural
Bankers Trust Co.
4742 N. 24th St., Ste. 165
Phoenix, AZ 85016
Contact: Patrick M. Joyce
Phone: (602) 224-2025
Website: phx.bankerstrust.com
Types of Loans/Services: commercial lending, commercial real-estate financing
BBVA Compass Bank
4010 E. Thomas Rd. Phoenix, AZ 85018
Contact: Romeo Zavala
Phone: (602) 522-2580
Website: www.bbvacompass.com
Types of Loans/Services: SBA loans, lines of credit, commercial real-estate lending, working capital financing, residential construction, energy lending, business leasing, business credit cards
BNC National Bank
8330 E. Hartford Dr. Scottsdale, AZ 85255
Contact: Scott Hupp
Phone: (913) 647-7014
Website: www.bncbank.com
Types of Loans/Services: revolving lines of credit for short-term operating needs, working capital loans, term loans for business equipment, commercial realestate loans, SBA loans, 504 commercial real-estate loans, business agricultural loans, letters of credit
Central Arizona Bank
7001 N. Scottsdale Rd., Ste. 1000 Scottsdale, AZ 85258
Contact: Dan Klenske
Phone: (480) 596-0883
Website: www.centralarizonabank.com
Types of Loans/Services: commercial term loans, commercial lines of credit, construction lines of credit, lease financing, corporate credit cards, agricultural loans
Comerica Bank
425 S. Mill Ave.
Tempe, AZ 85282
Contact: Bob Willcoxson
Phone: (480) 966-0849
Website: www.comerica.com
Types of Loans/Services: commercial property loans, business lines of credit, business loans, credit cards
Commerce Bank of Arizona
4110 N. Scottsdale Rd., Ste. 120
Scottsdale, AZ 85251
Contact: Larry O’Malley
Phone: (480) 253-7003
Website: www.commercebankaz.com
Types of Loans/Services: business-related loans of all types
Enterprise Bank
3900 E. Camelback Rd., Ste. 180 Phoenix, AZ 85018
Contact: Mike Theile
Phone: (602) 824-5700
Website: www.enterprisebank.com
Types of Loans/Services: commercial loans, equipment, real estate, construction, SBA loans, lines of credit
First Fidelity Bank
6232 N. 32nd St. Phoenix, AZ 85018
Phone: (602) 912-5555
Website: www.ffb.com
Types of Loans/Services: revolving lines of credit, commercial real estate, residential real estate, equipment, SBA, oil and gas production loans, commercial leasing
First International Bank & Trust
6840 E. Indian School Rd.
Scottsdale, AZ 85251
Contact: Craig Ealy
Phone: (480) 946-2967
Website: www.firstintlbank.com
Types of Loans/Services: agriculture, business, SBA
First Scottsdale Bank
15190 N. Hayden Rd. Scottsdale, AZ 85260
Contact: Ben Danner
Phone: (480) 998-8408
Website: www.fnbscottsdale.com
Types of Loans/Services: commercial lending, SBA
FirstBank
2525 E. Camelback Rd., Ste. 115 Phoenix, AZ 85016
Contact: Humphrey Shin
Phone: (602) 667-6900
Website: www.efirstbank.com
Types of Loans/Services: commercial real estate, construction, business first line of credit
Business Lending Guide
Gateway Bank
6860 E. Warner Rd.
Mesa, AZ 85212
Contact: James L. Christensen
Phone: (480) 358-1000
Website: www.gcbaz.com
Types of Loans/Services: commercial lending
Gold Canyon Bank
6641 S. Kings Ranch Rd., Ste. 2 Gold Canyon, AZ 85118
Contact: Dan Govinsky
Phone: (480) 474-2005
Website: www.goldcanyonbank.com
Types of Loans/Services: business, personal, SBA
Goldwater Bank
7135 E. Camelback Rd., Ste. 201 Scottsdale, AZ 85251
Contact: Lori Abreu
Phone: (480) 281-8190
Website: www.goldwaterbank.com
Types of Loans/Services: business lending
Great Western Bank
1721 N Arizona Ave., Ste. 1 Chandler, AZ 85225
Contact: David Telya
Phone: (480) 917-0139
Website: www.greatwesternbank.com
Types of Loans/Services: commercial and consumer loans
Heritage Bank, N.A.
4222 E. Camelback Rd., Ste. J200 Phoenix, AZ 85018
Contact: Ward Hickey
Phone: (602) 852-3462
Website: www.heritagebankaz.com
Types of Loans/Services: SBA and conventional for commercial real estate, business acquisition, equipment and credit lines
JPMorgan Chase
201 N. Central Ave. Phoenix, AZ 85004
Contact: SBA Lending Department
Phone: (888) 536-3722
Website: www.chase.com
Types of Loans/Services: commercial lending, SBA lending
Johnson Bank Arizona
3131 E. Camelback Rd., Ste. 100
Phoenix, AZ 85016
Phone: (602) 381-2100
Website: www.johnsonbank.com
Types of Loans/Services: lines of credit, commercial mortgages, equipment leasing, SBA loans
M&I Bank
1 E. Camelback Rd. Phoenix, AZ 85012
Contact: Greg Recker
Phone: (602) 241-6529
Website: www.mibank.com
Types of Loans/Services: SBA loans, commercial loans, lines of credit
Meridian Bank, NA
3550 N. Central Ave., Ste. 110 Phoenix, AZ 85012
Contact: Erik Frandsen
financials, projections
Three areas for a business to consider to improve its chances of securing a loan —
and repayment
Financials
Have up-to-date and timely financial statements to include the last three years’ fiscal year-end and most recent interim period. It is imperative that the business owner and senior management have a thorough understanding of financial results, trends, significant events that have impacted performance, and ratios such as debt service coverage, leverage, working capital, receivable turn days, etc. The financial institution will expect management to be the expert and help them analyze the business from a financial perspective. If there is a loss, be prepared to explain why.
Projections
While the financials tell the story of where the business has been and where it is now, a set of well-thought-out projections with assumptions will tell the story of where management believes the company will go in the future. The more detail the better. Stress testing the projections is a plus.
Repayment
Financial institutions, when analyzing a loan, are all about the repayment sources. Collateral alone will not get you approval. Cash flow is king because most lenders are cash-flow driven in their repayment analysis. That is the typical primary repayment source, with collateral being the second. Generally, with collateral, the more liquid and stable, the better.
—Kevin Lewis
Division Executive, Business & Commercial Services
Desert Schools Federal Credit Union
Phone: (602) 274-7500
Website: www.meridianbank.com
Types of Loans/Services: term/installment loans, business line of credit, SBA loans, commercial loans
Metro Phoenix Bank
4686 E. Van Buren St., Ste. 150 Phoenix, AZ 85008
Contact: Kevin O’Regan
Phone: (602) 346-1800
Website: www.metrophoenixbank.com
Types of Loans/Services: commercial lending
MidFirst Bank
3030 E. Camelback Rd. Phoenix, AZ 85016
Contact: Barb Bandura
Phone: (602) 801-5000
Website: www.midfirst.com
Types of Loans/Services: SBA loans, business express loans, business lines of credit, business term loans, commercial real-estate lending, business equipment lease financing
Mutual of Omaha Bank
9200 E. Pima Center Pkwy. Scottsdale, AZ 85258
Contact: Kevin Halloran
Phone: (480) 458-2249
Website: www.mutualofomahabank.com
Types of Loans/Services: commercial, commercial real estate, SBA, mortgage, personal, energy and association lending
National Bank of Arizona
6001 N. 24th St.
Phoenix, AZ 85016
Contact: Bruce Guest
Phone: (602) 235-6000
Website: www.nbarizona.com
Types of Loans/Services: small business, business, commercial, commercial real estate, consumer, residential real estate
Parkway Bank
11011 N. Tatum Blvd.
Phoenix, AZ 85028
Contact: Spencer Campbell
Phone: (602) 765-8501
Website: www.parkwaybank.com
Types of Loans/Services: an array of conventional business loans as well as SBA financing
Pinnacle Bank
14287 N. 87th St., Ste. 123
Scottsdale, AZ 85260
Contact: Greg Thorell
Phone: (480) 609-0055
Website: www.pinnaclebankaz.com
Types of Loans/Services: lines of credit, equipment loans, term loans, real-estate construction loans, standby letters of credit, SBA loans
Republic Bank
909 E. Missouri Ave.
Phoenix, AZ 85014
Contact: Ashley Mapes
Phone: (602) 277-2500
Website: www.republicbankaz.com
Types of Loans/Services: commercial loans and lines of credit, commercial real-estate loans, commercial construction loans, SBA loans
Sonoran Bank, N.A.
3877 N. 7th St., Ste. 150 Phoenix, AZ 85014
Contact: Frank Coumides
Phone: (602) 332-7828
Website: www.sonorabank.com
Types of Loans/Services: commercial loans to small and mid-size businesses for equipment, real estate and expansion
Stearns Bank Arizona, NA
9225 E. Shea Blvd., Scottsdale, AZ 85260
Contact: Bill Brindley
Phone: (480) 391-5912
Website: www.stearnsbank.com
Types of Loans/Services: SBA loans, commercial and construction lending, equipment finance and leasing, USDA rural development loans
Sunrise Bank of Arizona
3033 N. Central Ave.
Phoenix, AZ 85012
Contact: Katherine Brandon
Phone: (602) 522-3756
Website: www.sunrisebankofarizona.com
Types of Loans/Services: commercial real-estate loans, lines of credit, equipment and term loans, SBA loans
Sunwest Bank
60 E. Rio Salado Pkwy.
Tempe, AZ 85281
Contact: David Matthews
Phone: (480) 366-6021
Website: www.sunwestbank.com
Types of Loans/Services: commercial real estate, commercial and industrial
TCF Bank
11 S. McClintock Dr. Tempe, AZ 85281
Contact: Consumer Loans Department
Phone: (800) 823-5363
Website: www.tcfbank.com
Types of Loans/Services: working capital lines of credit, term loans, commercial real-estate loans, leasing, business credit cards
UMB Bank, NA
8800 E. Raintree Dr., Ste. 100 Scottsdale, AZ 85260
Contact: Robert Faver
Phone: (480) 459-2153
Website: www.umb.com
Types of Loans/Services: business real-estate loans, term loans, lines of credit, letters of credit, SBA loans, agriculture loans, capital purchase loans, leasing
US Bank
101 N. 1st Ave., Ste. 110
Phoenix, AZ 85003
Contact: SBA Division Administrative Office
Phone: (800) 269-4309
Website: www.usbank.com
Types of Loans/Services: SBA loans, lines of credit, equipment leasing, term loans, agricultural loans, quick credit, commercial real estate
What can a customer do to improve the chances of getting a loan?
Besides having financial information in good order, a borrower who has future plans is more likely to get financing. This means having projections or a budget for the next 12-24 months and support for where the revenue growth is coming from. Is growth expected in more business from the same customers? New customers? New products? Geographic expansion?
—Dean Rennell
Regional President, Arizona Business Banking
Wells Fargo
Wells Fargo Bank
100 W. Washington St. Phoenix, AZ 85003
Contact: Dean Rennell
Phone: (602) 378-5723
Website: www.wellsfargo.com/biz
Types of Loans/Services: business loans of all types, including real estate, lines of credit, equipment and SBA
West Valley National Bank
5635 N. Scottsdale Rd., Suite 150
Scottsdale, AZ 85250
Contact: Destin Simmons
Phone: (623) 535-2487
Website: www.wvnb.net
Types of Loans/Services: SBA 7(A), SBA 504, working capital, owner-occupied real estate, A/R lines of credit
Western National Bank
2525 E. Camelback Rd., Ste. 100
Phoenix, AZ 85016
Contact: Scott Stemm
Phone: (602) 553-7444
Website: www.wnbank.com
Types of Loans/Services: commercial lending, commercial real-estate financing, lines of credit, term loans, business credit cards, SBA loans
Business Lending Guide 2012
Credit Unions
Arizona Central Credit Union
2020 N. Central Ave., Ste. 100
Phoenix, AZ 85004
Contact: Todd Pearson
Phone: (602) 264-6421
Website: www.azcentralcu.org
Types of Loans/Services: SBA loans, commercial realestate loans, lines of credit, term loans
Arizona State Credit Union
2355 W. Pinnacle Peak Rd.
Phoenix, AZ 85027
Contact: Wendy Richardson
Phone: (602) 467-4262
Website: www.azstcu.org
Types of Loans/Services: term loans, SBA loans, working capital lines of credit, commercial real-estate mortgages, standby letters of credit, business vehicle loans, business credit cards
Credit Union West
2402 W. Grant St. Phoenix, AZ 85009
Contact: Business Service Center
Phone: (602) 631-3200
Website: www.cuwest.org
Types of Loans/Services: business loans
Desert Schools Federal Credit Union
148 N. 48th St.
Phoenix, AZ 85034
Contact: Herb Ramirez
Phone: (602) 663-8674
Website: www.desertschools.org
Types of Loans/Services: working capital financing, equipment loans, owner-occupied real estate, commercial real estate
TruWest Credit Union
1345 W. Warner Rd.
Tempe, AZ 85284
Contact: Daniel Desmond
Phone: (480) 441-5900
Website: www.truwest.org
Types of Loans/Services: business loans, secured and unsecured lines of credit, business credit cards, commercial real-estate lending, equipment financing
Selected Other Lenders & Resources ACCIÓN
P.O. Box 41237
Tucson, AZ 85717
Phone: (520) 682-3648
There are several things customers can do to improve their chances of obtaining a loan.
Do your research. Find out what a bank is going to ask for and obtain that information prior to talking with a loan officer. There is a typical list of information that banks ask for on a commercial loan. This includes three years’ tax returns (business and personal), updated financials, personal financial statement and a business plan. When a borrower is prepared, it gives the impression that the borrower has a grasp of the process.
Understand and be prepared to discuss the weaknesses of the business. If the company had a down year, be prepared to explain why.
Be thorough. Fill out all the documentation required. When forms are not filled out or inadvertently missing information, it tends to slow the process down significantly. Whether a loan closes in seven days or three months can come down to if the borrower provides the proper information and how detailed the information provided is.
Be patient. Banks are under significant regulatory pressures to document and verify all the information provided. This tends to slow down the process and oftentimes the borrower may get irritated.
Destin Simmons Chief Credit Officer • West Valley National Bank
Website: www.accionaz.org
Types of Services: loans, lines of credit, management services, investment, governance
Arizona Commerce Authority
333 N. Central Ave., Ste. 1900
Phoenix, AZ 85004
Phone: (602) 845-1200
E-mail: smallbiz@azcommerce.com
Website: www.azcommerce.com
Types of Services: business-growing strategies, market research, licensing information, statewide resource information, workforce assistance
Arizona Loans for Assistive Technology
Institute for Human Development University Affiliated Program
Northern Arizona University
2400 N. Central, Ste. 300 Phoenix, AZ 85004
Phone: (602) 776-4670
Website: www.azlat.net
Types of Services: loans for persons with disabilities to purchase assistive technology, training and technical assistance; equipment reutilization; Self Employment for Entrepreneurs with Disabilities program
City of Phoenix Expand Program
200 W. Washington St. Phoenix, AZ 85003
Phone: (602) 262-6005
Website: phoenix.gov/econdev
Types of Services: assistance in finding loans for businesses, collateral reserve deposits
Community Development Financial Institution (CDFI) Fund
601 13th St., N.W., Ste. 200, S. Washington, DC 20005
Phone: (202) 622-8662
Website: www.cdfifund.gov
Types of Services: credit, capital and financial services to underserved populations and communities in the United States
Industrial Development Authority (IDA) of Maricopa County
c/o Maricopa County Administration Office
301 W. Jefferson St., 10th Floor
Phoenix, AZ 85003
Phone: (602) 506-1888
Website: www.mcida.com
Types of Services: conduit financing, project financing, manufacturing facility bonds
Neighborhood Economic Development Corporation (NEDCO)
635 E. Broadway Rd. Mesa, AZ 85204
Phone: (480) 833-9200 Ext. 117
Website: www.nedco-mesa.org
Types of Services: alternative financing programs for new and start-up businesses, entrepreneur education, loan readiness assessment, business credit repair, loan application assistance
Service Corps of Retired Executives (SCORE)
2828 N. Central Ave., Ste. 800 Phoenix, AZ 85004-1093
Phone: (602) 745-7200
Website: www.score.org
Types of Services: resources, templates and tools to assist entrepreneurs in developing tools and plans
SBA — Small Business Administration (SBA)
2828 N. Central Ave., Ste. 800 Phoenix, AZ 85004-1093
Phone: (602) 745-7200
Website: www.sba.gov
Types of Services: loans, loan guarantees, contracts, counseling sessions and other forms of assistance to small businesses
Small Business Development Center (SBDC) 2411 W. 14th St. Tempe, AZ 85281
Phone: (480) 731-8720
Website: www.azsbdc.net
Types of Services: assistance for small businesses in every stage of development, SBA loan assistance, free one-on-one business counseling, workshops and training programs
Let us know if we missed your lending institution this year. Contact us to be a part of our 2013 edition, which will publish in the November 2012 issue.
