News & Insights

The Power of Local Small Business Spending on Community Growth

Shopping locally is not just about finding unique gifts; it’s about strengthening the entire community. Studies from REV indicate that 67 cents of every dollar spent at a local business remains in the local economy, compared to only 43 cents for non-local businesses. This local “multiplier effect” is significant because local businesses often source products from other small businesses, creating a positive economic ripple throughout the community. As stated by Forbes, Small businesses account for 99.9% of all businesses in the U.S. and employ nearly half of the American workforce. In other words, by shopping locally, consumers help maintain and create jobs that sustain their communities year-round.

Securing Capital as an Entrepreneurial and Small Business Owners in 2024

Securing funding remains a critical aspect of success for small business owners and entrepreneurs. However, the process of obtaining a bank loan can often time be difficult especially when facing challenges posed by traditional banking institutions. The latest Biz2Credit Small Business Lending Index, Big banks approved 13 percent of small business loan applications last month, down from 14.5 percent in January. However, Small banks’ approval percentages rose from 19.3% in September to 19.5% in October, marking an increase every month since June 2023. Understanding the landscape and employing strategic approaches could enhance small business owners and entrepreneurs to secure vital capital.

Revolutionizing Small Business Banking

As a former business owner and having 15 years of IT experience working in the banking industry, I have witnessed firsthand the evolving landscape of today's business culture. Small businesses face unique challenges when it comes to accessing financial services that cater to their specific needs. However, I am thrilled to share how Phoenix-based Integro Bank, under the visionary leadership of CEO Thomas J Inserra Inserra and EVP Elaine Szeto, is spearheading a transformative shift in the way small businesses are banking.

Avoiding High Risk Exposure and the Recent Failures of Two Large Banks

The recent failures of two large banks surprised a lot of people.  My prior experience managing 780 bank failures in two prior economic recessions, perhaps, afford me an opportunity to offer unique insights.

Arizona Will Get Its First New Bank in 14 Years

From Arizona News

When Scottsdale Community Bank opens for business in the coming weeks, it will mark the first time in the state of Arizona since the 2008 financial crisis.

Read Full Article

New Bank Charter Applications of 2021: Arizona Gets 3rd Proposed De Novo

From S&P Global

Arizona gained another bank in organization this month as the Copper State continues to wait for its first established de novo bank in 14 years. Phoenix-based Integro Bank adds to the handful of Arizona-based de novo banks in organization and is the second de novo to apply for deposit insurance in 2021, after Gainey Business Bank.

Read PDF