Wednesday, March 26, 2008
Arizona Bank to help Minority Small Businesses
Gilbert Jimenez is the proposed president of Colonia Bank (in organization) one of two banks that plan to move into new offices in Arizona in the upcoming months. He is also a graduate of Arizona State University and has held executive positions in Arizona. According to this article, "Jimenez said these banks plan to specifically cater to small and medium-sized businesses, especially in the Hispanic and multicultural community. Not only are multicultural citizens everywhere, so are small businesses." Jimenez added, "about 47 percent of Arizona's population is multicultural. About 35 percent is Hispanic.The bank is also expected to serve not-for-profits and women-owned businesses." This may be good news for Arizona franchisees in need of financing since Jimenez states that the banks intend to offer the full array of services of any bank. " Colonia has received approval from the Arizona Department of Financial Institutions to organize and begin raising between $8 million and $10 million in initial investment capital. The bank welcomes the small investor."