Tag Archives: Wells Fargo

bcgs

Boys & Girls Clubs of Greater Scottsdale announces new board

The Boys & Girls Clubs of Greater Scottsdale is pleased to announce the newest members to the non-profit’s Board of Governors:

  • Lee Nickloy – APS
  • Prescott Pohl – Snell & Wilmer
  • Kathleen Preston – Cox Communications
  • Ryan Rayburn – Lincoln Financial Advisors
  • Tom Traylor – Wells Fargo

“We are very thankful to have this great group of individuals serve on our board,” said Steve Davidson, President/CEO of the Boys & Girls Clubs of Greater Scottsdale. “These dedicated community leaders generously give their time and professional expertise in effort to make sure that the needs of our local youth are being met.”

About Boys & Girls Clubs of Greater Scottsdale
The Boys & Girls Clubs of Greater Scottsdale, celebrating its 60th Anniversary throughout 2014, empowers 17,800 youth of all ages and backgrounds to develop the qualities needed to reach their full potential as productive, responsible citizens. The Club provides a safe place, caring adult mentors, fun, friendship and athletics, and high-impact youth development programs during critical non-school hours. Clubs are located in cities and on Native American lands in the greater Scottsdale area and promote academic success, positive character and citizenship, and healthy lifestyles. For more information, visit www.bgcs.org.

Armstrong, Keri 2014

Wells Fargo Names Armstrong Business Banking Manager

Wells Fargo today announced that Keri Armstrong has been named Business Banking manager overseeing Wells Fargo Business Banking in the Mesa and Yuma and Arizona Agricultural Banking. Todd Gerber, Area Business Banking manager for Arizona announced the appointment.

“As the nation’s leading business lender, Wells Fargo is committed to satisfying all of the financial services needs of business customers and helping them succeed financially,” Gerber said. “During her career, Keri has excelled at providing outstanding service to our customers. Her strong skills, years of experience, and commitment to helping our business customers reach their goals, make him tremendous asset for our Business Banking team.”

Armstrong joined Wells Fargo in 1996 and most recently served as a Credit Management Group loan adjustment manager in Mesa where she was responsible for managing an assigned portfolio of assets for the Arizona and California markets. She has also held positions of senior business relationship manager, credit analyst, business sales associate, customer service representative and teller. Armstrong earned her bachelor’s degree in Accounting and Masters in Business Administration from the University of Phoenix.

Wells Fargo Business Banking delivers customized solutions and tailored business packages to help our business customers grow and prosper. These include loans and lines of credit, treasury management, payroll, merchant card services, foreign exchange, employee benefit plans, real estate lending, online banking and bill payment, business and personal insurance, investments, trusts, wealth management, business valuation and retirement planning.

Eric Wichterman, Cassidy Turley

CBRE Negotiates Sale of Tempe Towne Centre for $5.25M

CBRE has negotiated the sale of Tempe Towne Centre located at 20 E. University in Tempe, Ariz. The ±21,737-square-foot multi-tenant, class A office property commanded a sale price of $5.25 million and was 95 percent occupied at time of sale.

 

Barry Gabel and Chris Marchildon with CBRE’s Phoenix office, in conjunction with CBRE’s National Loan Sale Advisory Group, represented the seller, Brookfield Asset Management of Toronto, Ontario, Canada. The buyer was Tempe-based Tempe Towne Center LLC, a holding company owned by YAM Management, who negotiated on their own behalf. This purchase marks YAM Management’s second property at the prominent University and Mill intersection, having previously acquired Centerpoint on Mill in the fall of 2013.

 

This transaction is just another indicator of the unique strength of the Tempe market and the continued improvement of the Phoenix-metro area in general,” said CBRE’s Gabel. “With its infill location and strong tenant rent roll, Tempe Towne Centre is an excellent investment opportunity in a thriving submarket and compliments the buyers other recent purchase of Centerpoint on Mill just west of the building.”

 

The acquisition of Tempe Towne Centre comes just months after YAM Management’s purchase of Centerpoint on Mill. The mixed-use commercial property, which was originally developed by a unique public-private partnership between Scottsdale-based DMB, Inc. and the City of Tempe, was purchased by YAM in October 2013.

 

Tempe continues to be one of the most active and healthy markets in the metro area, and downtown Tempe continues to exceed industry market conditions with a Class-A office vacancy rate of just 3.81 percent. Vacancy for all of Tempe checked in at 9.4 percent at the end of the fourth quarter 2013. Compared to a fourth quarter vacancy rate of 22.4 percent for the metropolitan area as a whole, it’s no surprise that investors are flocking to the submarket and its amenity rich environment.

 

Tempe Towne Centre is directly across the street from the site of USA Place, the future home of USA Basketball’s headquarters, which will relocate from Colorado Springs, Colo. The 10-acre site will eventually be home to a 330-room, luxury hotel connected to a 30,000-square-foot conference center, both operated by Omni Hotels & Resorts. The basketball facility will include five full courts and two-half courts for national team tryouts and training camps and can be configured to seat up to 4,500.

 

Located in the core of a major employment hub with more than 200,000 jobs in a five mile radius, Tempe Towne Centre also benefits from its location next to Arizona State University and as part of the Mill Avenue District. Proximity to the Loop 101 and Loop 202 freeways provide residents with excellent access to the property and at 95 percent leased at time of sale, the property has a solid mix of tenants that include Wells Fargo Bank, JPMorgan Chase and Arizona State University.

woman

YWCA Honors Valley Women at Tribute to Leadership

The YWCA of Maricopa County has announced its Tribute to Leadership Honorees who will be honored at the 20th Anniversary Tribute to Leadership Gala on Saturday, February 1, 2014 at The Ritz Carlton in Phoenix, Arizona.

The Tribute to Leadership Gala is a special evening set aside to recognize the outstanding individuals who have given selflessly of their time and talent to make our community, and the world, a better place to live and work.

The awards are presented across a variety of categories and recognize those who have made substantial contributions to eliminating discrimination and empowering women in the community.

This year’s honorary chairs are Tim and Deborah Bateman. Cindy McCain will receive the YW’s “Global Justice Leadership Award”.

2014 Tribute to Leadership Honorees:

Mrs. Cindy McCain
The McCain Institute
2014 Global Justice Leadership Award

Alejandra Amarilla Nash
Landfill Harmonic Project
Community Service Nonprofit Leader

MaryLynn Mack
Desert Botanical Garden
Education Leader

Chevy Humphrey
Arizona Science Center
Health & Science Leader

Martha Kuhns
Women’s Overseas Service League
Military or Armed Service Leader

Karen Johnson
Midwestern University
Dorothy Willey Award

Pam Conboy
Wells Fargo
Community Service Corporate Leader

Leon Silver
Polsinelli
Advocacy Leader

Judge Roxanne Song Ong
City of Phoenix- Phoenix Municipal Court
Public Service Award

Dr. Joel Martin
Positively Powerful | Triad West Inc
Racial Justice Leader

WellsFargoLogo

Date Set for Wells Fargo Campus Expansion Ground Breaking

Wells Fargo will conduct a ground breaking ceremony as it formally announces plans to double the size of its current facilities at the Ocotillo Corporate Center.  Wells Fargo will invest approximately $125 million to expand its current facilities by 410,000 SF which will allow the company to further invest in the community and bring more of its area team members to Chandler.

The expansion will add two new four-story buildings, including office space, a meeting and event center, and a full service team member café, bringing total square footage at the campus to approximately 810,000 square feet.  The new buildings will be designed and built to Leadership in Energy and Environmental Design (LEED) Gold standards set by the U.S. Green Building Council (USGBC).

Groundbreaking is on Wednesday, Dec. 11.

JoAnn C. Holland and Linda M. Herold

Holland Named To Lead 2 Women's Groups

JoAnn C. Holland is the new leader for Central Phoenix Women and Women of Scottsdale, two established women’s organizations in the Valley founded by Linda M. Herold.  The transition has been in the works and Holland will take over leadership as president and CEO effective January 1, 2014.  Additionally Holland will launch a new organization, East Valley Women, in Spring 2014.   Herold will assist Holland with the launch and development of East Valley Women.

Holland will be the president and CEO for each organization.  Holland has substantial experience in corporate and nonprofit organizations in a wide variety of business areas from public relations, sales and marketing, leadership development, project management, finance, customer service, management training and event coordination for the past 28 years with companies such as Wells Fargo, Border Trade Alliance, Greater Phoenix Economic Council, Hyatt Hotels and Dun & Bradstreet.  Her previous role as Vice President, Community Affairs Manager for Wells Fargo’s Arizona region provides her a wide bandwidth of contacts and community resources.  In addition, Holland has served the community in numerous roles such as chairing community events, serving on boards and volunteering for numerous nonprofits such as the Tostitos Fiesta Bowl, Sleep America Charities, Arizona Community Foundation, Diocese of Phoenix, Xavier College Preparatory, Arthritis Foundation and many others.

During comments made at the November meetings Herold said, “I am confident that JoAnn’s dynamic leadership style, vision for the future, and excellent management skills will benefit these organizations.  My involvement will continue as founder and official ambassador and fairy godmother.  I look forward to enjoying many creative endeavors and my community partnerships.”

Women of Scottsdale, founded in 1998, celebrates the “Spirit of Scottsdale” in the refined setting of an elegant reception and luncheon the third Friday of every month at The Westin Kierland Resort & Spa. Business and professional women, community leaders, and women from all walks of life are welcome.  www.womenofscottsdale.org

Central Phoenix Women, founded in 2006, meets monthly at The Ritz-Carlton, Phoenix.  Central Phoenix Women is an organization for women who have established themselves professionally and demonstrated their commitment to the community.  Members are individuals who wish to enhance their leadership by connecting with like-minded women to share information, ideas, contacts and opportunities. www.centralphoenixwomen.org

Herold founded three distinguished women’s organizations in the Valley, Women of Scottsdale, West Valley Women, and Central Phoenix Women, all three are thriving today.  West Valley Women, founded in 2005, is led by president Lisa E. Platt.   For over 15 years Herold was an active journalist in the Valley covering society, philanthropy and culture. Herold is the founder of Society of Chairs, an impressive annual dinner honoring nonprofit leaders and their volunteer chairs.

JoAnn C. Holland and Linda M. Herold

Holland Named To Lead 2 Women's Groups

JoAnn C. Holland is the new leader for Central Phoenix Women and Women of Scottsdale, two established women’s organizations in the Valley founded by Linda M. Herold.  The transition has been in the works and Holland will take over leadership as president and CEO effective January 1, 2014.  Additionally Holland will launch a new organization, East Valley Women, in Spring 2014.   Herold will assist Holland with the launch and development of East Valley Women.

Holland will be the president and CEO for each organization.  Holland has substantial experience in corporate and nonprofit organizations in a wide variety of business areas from public relations, sales and marketing, leadership development, project management, finance, customer service, management training and event coordination for the past 28 years with companies such as Wells Fargo, Border Trade Alliance, Greater Phoenix Economic Council, Hyatt Hotels and Dun & Bradstreet.  Her previous role as Vice President, Community Affairs Manager for Wells Fargo’s Arizona region provides her a wide bandwidth of contacts and community resources.  In addition, Holland has served the community in numerous roles such as chairing community events, serving on boards and volunteering for numerous nonprofits such as the Tostitos Fiesta Bowl, Sleep America Charities, Arizona Community Foundation, Diocese of Phoenix, Xavier College Preparatory, Arthritis Foundation and many others.

During comments made at the November meetings Herold said, “I am confident that JoAnn’s dynamic leadership style, vision for the future, and excellent management skills will benefit these organizations.  My involvement will continue as founder and official ambassador and fairy godmother.  I look forward to enjoying many creative endeavors and my community partnerships.”

Women of Scottsdale, founded in 1998, celebrates the “Spirit of Scottsdale” in the refined setting of an elegant reception and luncheon the third Friday of every month at The Westin Kierland Resort & Spa. Business and professional women, community leaders, and women from all walks of life are welcome.  www.womenofscottsdale.org

Central Phoenix Women, founded in 2006, meets monthly at The Ritz-Carlton, Phoenix.  Central Phoenix Women is an organization for women who have established themselves professionally and demonstrated their commitment to the community.  Members are individuals who wish to enhance their leadership by connecting with like-minded women to share information, ideas, contacts and opportunities. www.centralphoenixwomen.org

Herold founded three distinguished women’s organizations in the Valley, Women of Scottsdale, West Valley Women, and Central Phoenix Women, all three are thriving today.  West Valley Women, founded in 2005, is led by president Lisa E. Platt.   For over 15 years Herold was an active journalist in the Valley covering society, philanthropy and culture. Herold is the founder of Society of Chairs, an impressive annual dinner honoring nonprofit leaders and their volunteer chairs.

JoAnn C. Holland and Linda M. Herold

Holland Named To Lead 2 Women’s Groups

JoAnn C. Holland is the new leader for Central Phoenix Women and Women of Scottsdale, two established women’s organizations in the Valley founded by Linda M. Herold.  The transition has been in the works and Holland will take over leadership as president and CEO effective January 1, 2014.  Additionally Holland will launch a new organization, East Valley Women, in Spring 2014.   Herold will assist Holland with the launch and development of East Valley Women.

Holland will be the president and CEO for each organization.  Holland has substantial experience in corporate and nonprofit organizations in a wide variety of business areas from public relations, sales and marketing, leadership development, project management, finance, customer service, management training and event coordination for the past 28 years with companies such as Wells Fargo, Border Trade Alliance, Greater Phoenix Economic Council, Hyatt Hotels and Dun & Bradstreet.  Her previous role as Vice President, Community Affairs Manager for Wells Fargo’s Arizona region provides her a wide bandwidth of contacts and community resources.  In addition, Holland has served the community in numerous roles such as chairing community events, serving on boards and volunteering for numerous nonprofits such as the Tostitos Fiesta Bowl, Sleep America Charities, Arizona Community Foundation, Diocese of Phoenix, Xavier College Preparatory, Arthritis Foundation and many others.

During comments made at the November meetings Herold said, “I am confident that JoAnn’s dynamic leadership style, vision for the future, and excellent management skills will benefit these organizations.  My involvement will continue as founder and official ambassador and fairy godmother.  I look forward to enjoying many creative endeavors and my community partnerships.”

Women of Scottsdale, founded in 1998, celebrates the “Spirit of Scottsdale” in the refined setting of an elegant reception and luncheon the third Friday of every month at The Westin Kierland Resort & Spa. Business and professional women, community leaders, and women from all walks of life are welcome.  www.womenofscottsdale.org

Central Phoenix Women, founded in 2006, meets monthly at The Ritz-Carlton, Phoenix.  Central Phoenix Women is an organization for women who have established themselves professionally and demonstrated their commitment to the community.  Members are individuals who wish to enhance their leadership by connecting with like-minded women to share information, ideas, contacts and opportunities. www.centralphoenixwomen.org

Herold founded three distinguished women’s organizations in the Valley, Women of Scottsdale, West Valley Women, and Central Phoenix Women, all three are thriving today.  West Valley Women, founded in 2005, is led by president Lisa E. Platt.   For over 15 years Herold was an active journalist in the Valley covering society, philanthropy and culture. Herold is the founder of Society of Chairs, an impressive annual dinner honoring nonprofit leaders and their volunteer chairs.

Tailoring Jobs

Wells Fargo Supports Neighborhood Revitalization

Wells Fargo & Company announced it will donate $75,000 to Native American Connections (NAC) of Phoenix as part of a $6 million in grants awarded across 67 nonprofits through its 2013 Leading the Way Home® program Priority Markets Initiative to  help stabilize and revitalize neighborhoods impacted by the economy.   The Leading The Way Home® program Priority Markets Initiative provides grant support for neighborhood stabilization projects that are located in areas designated for revitalization to stimulate growth, stability and investment in distressed areas.

“Wells Fargo is bringing much needed support to enable these nonprofits to help stabilize and revitalize local communities,” said Michael Riley, Metro West area president for Wells Fargo Arizona. “We believe the work of the nonprofit community is a critical conduit to revitalize neighborhoods in cities that have been deeply affected by the challenging economy.”

Native American Connections, is actively involved and experienced in community revitalization efforts and was identified by Wells Fargo as being in need of extra help with large-scale neighborhood revitalization projects. Priority Markets Initiative program grants can be used for any costs associated with the development or redevelopment of the project. Recipients must be an IRS 501c3 organizations with successful histories of building or renovating housing for low-to moderate-income homebuyers.

“Native American Connections first partnered with Wells Fargo in 2004 for our very first Low-Income Housing Tax Credit (LIHTC) development,” said Diana Yazzie Devine, NAC chief executive officer. “The experience helped us grow our capacity to develop high quality, affordable housing serving a range of our client’s needs throughout central Phoenix.  Wells Fargo supports NAC’s strategies of building along Phoenix’s new light rail system, selecting difficult urban infill sites that increase density, reduce parking, building green, and embracing our mission of ensuring our residents have access to much-needed support systems and employment. We would like to thank Wells Fargo for their years of continued support and we look forward to our work together in the future.”

Native American Connections will use the grant funds to make additional energy efficiency improvements to Urban Living on 2nd (UL2), and to further reduce building operating costs and individual unit energy costs.  UL2, opening January 2014, is a 70-unit LIHTC development offering affordable housing along the light rail line at 650 North 2nd Avenue in Phoenix.  Wells Fargo provided construction financing for the project.
Wells Fargo’s Leading the Way Home® community outreach program helps communities stabilize their current housing situation while advancing homeownership to build strong communities into the future. Since 2009, the Leading the Way Priority Markets Initiative grant program, funded through the Wells Fargo Housing Foundation, has provided more than $25 million to nearly 100 communities.

The Leading the Way Home Program Priority Markets Initiatives are administered through the Wells Fargo Housing Foundation. Since 1993, the Wells Fargo Housing Foundation has invested more than $284 million in support of affordable housing and community revitalization programs, and delivered 4.7 million in volunteer hours to build or rehabilitate more than 5,000 homes.

JayTibshraeny_PriceCorridor

Tibshraeny Named Municipal Leader of the Year

American City & County magazine has selected Chandler Mayor Jay Tibshraeny as its Municipal Leader of the Year.

Mayor Tibshraeny will be featured in the November edition of American City & County, which has been the voice of state and local government since 1909. The magazine serves city, county and state officials who are charged with developing and implementing government policy, programs and projects.

“Mayor Tibshraeny proves that through foresight and endurance, America’s local leaders can help overcome their community’s problems,” said Bill Wolpin, Editor, American City & County Magazine. “His story is worth sharing in the hopes that others will become inspired.”

This honor is in large part due to Mayor Tibshraeny’s role in economic development and specifically, creating, protecting and preserving the Price Corridor.  The Price Corridor is Chandler’s major employment corridor and has been instrumental in attracting high wage technology jobs to the city.

Price Corridor is home to large corporations such as Intel, Bank of America, PayPal, Microchip Technologies, Orbital Sciences, Rogers Corporation and Wells Fargo. In the past year alone, General Motors, Infusionsoft and Nationstar opened in the Price Corridor.

“Chandler is a leader in the region in job creation and today the Price Corridor is home to an impressive roster of companies,” said Mayor Jay Tibshraeny. “This success validates our efforts to protect the area from residential encroachment. I am proud of what we have been able to accomplish in the area as Chandler is now recognized as a premier innovation and technology hub throughout the Southwest.”

In addition to his achievements with the Price Corridor, Mayor Tibshraeny is being recognized for a wide variety of accomplishments including; the Four Corner Initiative and Adaptive Reuse Program, creating a healthier community, neighborhood outreach, job creation and University partnerships and transparency through technology.

A Guide to Applying for a Bank Loan

Wells Fargo team members donate $3M to nonprofits

Wells Fargo & Company announced today that its team members donated $3.02 million to nonprofit organizations and schools in Arizona as part of the company’s annual Community Support and United Way Campaign.  All donations were funded personally by team members.  In addition to a 14 percent year-over-year increase in donations, the one-month campaign also resulted in more than 6,800 team member volunteer hours to 477 nonprofit organizations and schools across the state.

“The engagement, thoughtfulness and caring of our Arizona team members is inspiring,” said Pam Conboy, Arizona lead regional president and state campaign co-chair. “This annual campaign highlights the compassion of our great team members and reinforces that Wells Fargo truly is Arizona’s Community Bank.  Our team members’ deep commitment to our community explains why Wells Fargo has been United Way’s No. 1 largest corporate campaign over the past four years nationally.”

The annual Community Support and United Way Campaign encourages team members to give in ways that mean the most to them, whether by going out into the community to volunteer for their favorite nonprofit, or through financial contributions to any nonprofit, school, or religious institution of their choice. One hundred percent of team member donations go to the organizations they choose. Wells Fargo pays all processing costs and matches gifts, up to $5,000 per team member, to qualifying schools.

During this year’s national campaign, team members pledged a record $64.9 million to community nonprofits and schools. Wells Fargo team members invest in nonprofits throughout the year.  To-date, including the campaign, team members have donated $89 million of their own dollars to nonprofits, a 13 percent increase over 2012, and the tenth straight year of year-over-year double-digit increases in pledge totals.

Chacopulos

Leadership spotlight: Theresa Chacopulos

Theresa Chacopulos
Senior vice president and senior financial advisor
Wells Fargo Advisors LLC
wellsfargoadvisors.com

Chacopulos was ranked among Barron’s Top 1,000 Financial Advisors for 2013 and was ranked No. 1 in the state of Arizona. Chacopulos serves high net worth clients, offering a customized approach to portfolio management.  A 29-year financial services veteran, she holds the Certified Financial Planner and Certified Investment Management Analyst designations.

Best advice to offer: “Wealth management as an investment-advisory discipline incorporates a number of aggregated financial services. My advice is to find an advisor that will properly manage these segments, in addition to working with your attorney, CPA or any of your professional advisors.”

conboy

Leadership spotlight: Pamela Conboy

Pamela Conboy
Lead regional president
Wells Fargo
wellsfargo.com

Conboy has 34 years of leadership experience in retail, business banking and learning and sales development. She manages 4,200 team members, 340 stores and $24.4 billion in deposits. She sits on numerous boards, including the Greater Phoenix Chamber of Commerce, Valley of the Sun United Way and American Cancer Society’s CEOs Against Cancer.

Biggest challenge: “I have relocated five times during my career and each move required forming new professional relationships, and personal as well.  I learned how to effectively network, joining Chambers, seeking high impact Community Boards where I could meet new leaders and make a difference.  Arizona has been terrific since my arrival six years ago.”

Best advice to offer: “The best way to get promoted is by being great in your current role and master your business knowledge and skills … One of my favorite quotes is, ‘In search of perfection, you just might catch excellence.’”

Best accomplishment: “My most proud successes are those that I get to share with my team.  At Wells Fargo we are One Team — no “I,” only “We.”  Together we achieve greatness, and we always get better by having everyone get better together — we like to say a high tide raises all ships!  And WE LOVE to recognize, to celebrate and to always have fun!”

5 C's of Credit

Wells Fargo Arizona No. 1 SBA lender in dollars

Wells Fargo & Company (NYSE: WFC), America’s No. 1 small business lender, today announced it is the No. 1 Small Business Administration (SBA) 7 (a) lender in Arizona in amount of dollars for the seventh consecutive year and tied for #1 in terms of number of loans  approved.  Wells Fargo approved $75 million dollars and 176 loans to Arizona businesses from Oct. 1, 2012 and Sept. 30, 2013.

“Wells Fargo has a long history of supporting the growth of Arizona’s small businesses and providing credit to meet their financing needs,” said Jim Valley, SBA regional sales manager for Wells Fargo Arizona.  “We believe that the flow of new loan dollars into our communities represents a very powerful statement for job creation and economic development, and we are pleased to provide financial support that gives business owners the funds they need to grow their businesses, retain employees and continue to create new jobs in our community and across the country.”

Among the customers who Wells Fargo helped become business owners with an SBA loan are military veterans Bradley and Barbara Frey of Tucson, Ariz. The couple secured an SBA 7(a) loan to buy a mobile home parts manufacturing business, M&M Home Supply Warehouse, earlier this year.

“My wife and I have always dreamed of running our own small business together,” said Brad Frey. “As new small business owners, it was a daunting task to get our business up and running, but Wells Fargo helped us from the beginning and is a significant reason why we are thriving. My wife and I had tears of happiness when we were signing our loan documents because we could not believe our dream was now a reality.”

Nationally, Wells Fargo approved a record $1.47 billion in Small Business Administration (SBA) loans in federal fiscal year 2013 (Oct. 1, 2012 – Sept. 30, 2013) and for the fifth consecutive year is America’s leading SBA 7(a) lender in dollar volume. This is the third year in a row that Wells Fargo has approved more than $1 billion in SBA 7(a) loans to small business owners – the only lender to achieve this milestone.  An SBA preferred lender in all 50 states, Wells Fargo also is the second largest SBA lender in units extending 3,481 SBA 7(a) loans in federal fiscal year 2013.

Wells Fargo is the No. 1 SBA 7(a) lender in dollars in 12 states: Arizona, California, Colorado, Florida, Georgia, Iowa, Minnesota, New Mexico, Pennsylvania, South Dakota, Texas and Virginia – and the No.1 SBA 7(a) lender in number of loans (units) in 11 states: Alaska, Arizona (tied), California, Colorado, Florida, Georgia, Nevada (tied), New Mexico, South Carolina, South Dakota and Virginia.

118315706

GPEC announces Board of Directors for FY 2014

The Greater Phoenix Economic Council (GPEC) today announced the appointment of its Board of Directors for the 2014 fiscal year, as approved by the Executive Committee.

Alliance Bank of Arizona CEO James Lundy will continue to lead the Board of Directors as chairman.

“As the economy continues to improve, GPEC’s team of results-driven board directors will work to ensure the region not only maintains its trajectory but also pushes toward a more diversified and sustainable economy that is less dependent on growth industries like real estate and construction,” Lundy said. “I’m honored to work with this talented group of professionals and look forward to a productive year.”

Rounding out the Board’s leadership is SCF Arizona President and CEO Don Smith and Empire Southwest Executive Vice President Chris Zaharis as vice chairs, APS Vice President and Chief Customer Officer Tammy McLeod as secretary and Bryan Cave, LLP Partner R. Neil Irwin as treasurer.

New Board Directors include: Steve Banta, CEO of Valley Metro; the Honorable Denny Barney, District 1 Supervisor for the Maricopa County Board of Supervisors; Scott Bradley, Area Vice President for Waste Management; Mark Clatt, Area President for Republic Services; the Honorable Vincent Francia, Mayor of the Town of Cave Creek; Dr. Ann Weaver Hart, President of the University of Arizona; Bill Jabjiniak, Economic Development Director for the City of Mesa; the Honorable Michael LeVault, Mayor of the Town of Youngtown; Rich Marchant, Executive Vice President, Global Operations for Crescent Crown Distributing; Ryan Nouis, Co-Founder and President of Job Brokers; and Eric Orsborn, Councilmember for the Town of Buckeye.

“GPEC’s success is largely driven by its strong Board of Directors, all of whom reflect the region and state’s most accomplished professionals,” GPEC President and CEO Barry Broome said. “Every single one of them truly cares about our market’s success and serves as a community thought leader when it comes to competitiveness.”

Mayors from GPEC’s member communities and the organization’s Nominating Committee are responsible for nominating and appointing Board Directors. The one-year terms are approved during GPEC’s Annual Board meeting.

GPEC FY 2014 Board of Directors:

James Lundy – Chairman
CEO
Alliance Bank of Arizona

Don Smith – Vice Chair
President and CEO
SCF Arizona

Chris Zaharis – Vice Chair
Executive Vice President
Empire Southwest

Tammy McLeod – Secretary
Vice President and Chief Customer Officer
Arizona Public Service Company

R. Neil Irwin – Treasurer
Partner
Bryan Cave, LLP

William Pepicello, Ph.D. – Immediate Past Chair
President
University of Phoenix

Barry Broome
President and CEO
Greater Phoenix Economic Council

Richard C. Adkerson
President and CEO
Freeport McMoRan Copper & Gold

Jason Bagley
Government Affairs Manager
Intel

Ron Butler
Managing Partner
Ernst & Young LLP

Brian Campbell
Attorney
Campbell & Mahoney, Chartered

Michael Crow, Ph.D.
President
Arizona State University

Kathleen H. Goeppinger, Ph.D.
President and CEO
Midwestern University

Derrick Hall
President and CEO
Arizona Diamondbacks

Sharon Harper
President and CEO
The Plaza Companies

Ann Weaver Hart, Ph.D.
President
University of Arizona

Don Kile
President, Master Planned Communities
The Ellman Companies

Paul Luna
President and CEO
Helios Education Foundation

Rich Marchant
Executive Vice President, Global Operations
Crescent Crown Distributing

David Rousseau
President
Salt River Project

Joseph Stewart
Chairman and CEO
JPMorgan Chase Arizona

Hyman Sukiennik
Vice President
Cox Business

Karrin Kunasek Taylor
Executive Vice President and
Chief Entitlements Officer
DMB Associates, Inc.

Gerrit van Huisstede
Regional President Desert Mountain Region
Wells Fargo

Andy Warren
President
Maracay Homes

Richard B. West, III
President
Carefree Partners

John Zidich
Publisher & President
The Arizona Republic

Chuck Allen
Managing Director, Gov’t & Community Relations
US Airways

Steve Banta
CEO
Valley Metro

Denny Barney
County Supervisor-District 1
Maricopa County Board of Supervisors

Jason Barney
Principal and Partner
Landmark Investments

The Honorable Robert Barrett
Mayor
City of Peoria

Timothy Bidwill
Vice President
Vermilion IDG

Scott Bradley
Area Vice President, Four Corners Area
Waste Management

Norman Butler
Market Executive
Bank of America Merrill Lynch

Mark Clatt
Area President
Republic Services

Jeff Crockett
Shareholder
Brownstein Hyatt Farber Schreck

Wyatt Decker, M.D.
CEO
Mayo Clinic Arizona

George Forristall
Director of Project Development
Mortenson Construction

The Honorable Vincent Francia
Mayor
Town of Cave Creek

Rufus Glasper, Ph.D.
Chancellor
Maricopa Community Colleges

Barry Halpern
Partner
Snell and Wilmer

G. Todd Hardy
Vice President of Assets
ASU Foundation

Lynne Herndon
Phoenix City President
BBVA Compass

Linda Hunt
Senior VP of Operations and President/CEO
Dignity Health Arizona

William Jabiiniak
Economic Development Director
City of Mesa

The Honorable Robert Jackson
Mayor
City of Casa Grande

The Honorable Linda Kavanagh
Mayor
Town of Fountain Hills

The Honorable Andy Kunasek
County Supervisor, District 3
Maricopa County Board of Supervisors

The Honorable Michael LeVault
Mayor
Town of Youngtown

The Honorable John Lewis
Mayor
Town of Gilbert

The Honorable Marie Lopez Rogers
Mayor
City of Avondale

The Honorable Georgia Lord
Mayor
City of Goodyear

Jeff Lowe
President
MidFirst Bank

Paul Magallanez
Economic Development Director
City of Tolleson

Kate Maracas
Vice President
Abengoa

The Honorable Mark Mitchell
Mayor
City of Tempe

Ryan Nouis
Co-Founder & President
Job Brokers

Ed Novak
Managing Partner
Polsinelli Shughart

Eric Osborn
Councilmember
Town of Buckeye

Rui Pereira
General Manager
Rancho de Los Caballeros

The Honorable Christian Price
Mayor
City of Maricopa

Craig Robb
Managing Director
Zions Energy Link

The Honorable Jeff Serdy
Councilmember
City of Apache Junction

Steven M. Shope, Ph.D.
President
Sandia Research Corporation

James T. Swanson
President and CEO
Kitchell Corporation

Richard J. Thompson
President and CEO
Power-One

Jay Tibshraeny
Mayor
City of Chandler

John Welch
Managing Partner
Squire Sanders

Dan Withers
President
D.L. Withers Construction

The Honorable Sharon Wolcott
Mayor
City of Surprise

GENERAL COUNSEL
Bryant Barber
Attorney at Law
Lewis and Roca

TOY_AZ_Nancie_Lindblom

Wells Fargo Celebrates Arizona Teacher of the Year

Wells Fargo is honoring Arizona’s Teacher of the Year on its ATMs across the state.  For the month of September most of Wells Fargo’s 541 ATMs in Arizona will feature a screen congratulating 2013 Teacher of the Year, Nancie Lindblom. Wells Fargo’s ATM customers will see a picture of Lindblom and some details about her teaching achievements.

“Teachers are the backbone of our community and we believe it’s important to celebrate the great teachers who encourage, support and inspire great achievements from their students,” said Pam Conboy, lead regional president for Wells Fargo in Arizona. “We congratulate Nancie Lindblom and thank all of our Arizona teachers for their service. Our entire community benefits from their work, and we want to show our appreciation by honoring one of Arizona’s best.”

Lindblom teaches 11th and 12th grade American History and Government at Skyline High School in Mesa.  She has been an educator for 18 years.  Lindblom earned a bachelor’s degree in Social Studies Education from Northern Arizona University. She is currently pursuing a Master’s degree in American History and Government from Ashland University and will graduate in May 2014.

A Guide to Applying for a Bank Loan

Wells Fargo Names new Business Banking Managers

Kyle Hanson, Tom Traylor and Jerry Ritchie, financial services veterans with more than 47 years of experience between them, have been named Business Banking managers for Wells Fargo Business Banking in the Valley.  Jim Pfeiffer, Area Business Banking manager for Arizona announced the appointment.

Kyle Hanson will serve as Business Banking manager for Wells Fargo Business Banking in Scottsdale. Hanson joined Wells Fargo in 2003 and comes to the Valley from Portland, Oregon where he served as a Business Banking manager leading a team of seven relationship managers, three industry specialists and three support staff for Wells Fargo’s Specialty Markets in Oregon and Business Banking in Vancouver. He received a Bachelor of Business Administration in Finance from the University of Alaska.

Tom Traylor will serve as Business Banking manager for Wells Fargo Business Banking in the North Valley.  Traylor joined Wells Fargo in 1995.  Prior to this appointment, he served as senior regional credit officer responsible for credit approval and lending activities for both Arizona and Nevada.  Traylor has also served as senior examiner, credit manager, senior commercial lender, business banker and credit analyst. He received his Bachelor of Arts in Finance and Master of Business Administration from Iowa State University.

Jerry Ritchie will serve as Business Banking manager for the Phoenix Business Bank.  In this role, he also will oversee Wells Fargo’s Business Banking Real Estate Division.  Ritchie has been with Wells Fargo since 1994 and comes to the Valley from Wells Fargo’s Las Vegas Commercial Real Estate team where he was office manager.  Ritchie also has served as homebuilder lending manager, relationship manager, credit analyst, and consumer loan officer for Wells Fargo. He received a Bachelor of Science in Finance and Master of Business Administration in Management from Arizona State University and a graduate degree in Banking Administration & Finance from the Pacific Coast Banking School

“As the nation’s leading business lender, Wells Fargo is committed to satisfying all of the financial services needs of business customers and helping them succeed financially,” Pfeiffer said.  “Kyle, Tom and Jerry bring strong leadership skills and a wealth of experience to our Arizona Business Banking team, and their scope of knowledge and commitment to serving our business customers make them a perfect fit for our business teams in Phoenix, Scottsdale and the North Valley.”

Wells Fargo Business Banking delivers customized solutions and tailored business packages to help our business customers grow and prosper.  These include loans and lines of credit, treasury management, payroll, merchant card services, foreign exchange, employee benefit plans, real estate lending, online banking and bill payment, business and personal insurance, investments, trusts, wealth management, business valuation and retirement planning.

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Office/Industrial: Money in the Market

As recent as two years ago, commercial foreclosures were affecting the markets and underlying property values. Then talk surfaced that the “blue blood” money was back and looking to make deals.
Fast forward to 2013: Is this still the case?
“In regards to office and industrial, the ‘blue blood’ is very active in the marketplace,” says Todd Jarman, senior vice president Commercial Real Estate for BBVA Compass. “The recent announcement of joint ventures with Clarion Partners (and Wentworth Property) and Walton Street Capital (and Everest Holdings) continue a string of similar headlines we have seen more for many months now.
Values are holding very well, Jarman says, and in many cases appreciating nicely. He adds the market has not seen the wave of commercial foreclosures that were expected a number of years ago. Given the strong demand for good product, he adds, lenders holding distressed properties have instead opted to either entertain short-sales, note sales or direct borrower negotiations.
“In regards to the current lending environment, our local banks are very hungry for stabilized product (both office and industrial), and we are beginning to see lenders take market/leasing risk on industrial buildings (big box /West side) — as several speculative developments are underway,” Jarman says. “Lenders continue to be hesitant on market/leasing risk on office, unless a very ‘special story’ exists. I would suspect that any new office development would require substantial pre-leasing — at least 50% or a number that could provide break even DSCR.”
According to Scott Holland, managing partner, Keystone Commercial Capital, foreclosures have tailed off to a point that they are not having the downward pressure on values that they did over the past few years.
“I believe the market has found a floor and while there are still good values to be found in the market, the increasing transaction activity is bringing buyers back into the market as they can begin to feel comfortable with where the floor is and can focus on creating value as the market begin to resurge.
“As for money, I believe there is a significant amount of various equity capital (institutional, wealthy private and true entrepreneurial investors) in the market looking for value creation opportunities,” he says, “These markets appear to be in the early stages of recovery and everyone is trying to get an investment stake in the ground in order to enjoy the market lift that traditionally follows a significant down market — and what a down market it was.
But just as with the abundance of equity capital, there is an abundance of debt capital.  While the sheer volume of both equity and debt capital can’t be disputed, their adherence to fundamentals at this stage of the recovery is also clear.
“The not-so-distant memory of bad buys and bad loans will continue to keep both of these capital sources disciplined in their approach to the business for the reasonable foreseeable future, Holland says.
Commercial foreclosures are waning and CMBS special servicers have the bulk of what is available, says Jaclyn Noel, senior VP and private banker at Wells Fargo.
“The process with these groups takes longer because of the layers of legality,” she says. “Bank inventories are down and the economy is improving. Capitalization rates for these property types are normalizing.
Capital is flowing from different sources both locally and internationally, especially from Canadian investors.
“All the usual suspects are active again: banks, CMBS, life companies, pension funds, finance companies, private placements. Our Private Bank is actively providing commercial real estate investor financing.”
The Metro Phoenix office market remains very soft due to over-supply and weak absorption, says Vicki Williams, senior VP Commercial Real Estate at Alliance Bank of Arizona. Leasing activity, she says, consists primarily of tenants moving from one submarket to another and/or moving up from Class B properties to Class A properties.
“Institutional capital is available to acquire trophy, stabilized Class A properties only, which trade at low cap rates,” Williams says.
The market for Class B properties is the most active, according to Williams. Buyers for stabilized — or relatively stabilized —  Class B properties include investment funds and private REITs who partner with pension funds. These assets are selling at higher cap rates, which is reflective of those investors looking for risk adjusted returns.
“They do not anticipate rents to trend upwards in the short term and therefore plan on a longer hold strategy of 7 years or more,” she says. “Truly value-ad, distressed, multi-tenant office properties are being acquired by buyers willing to take more risk for a higher potential return. These investors are Canadian investors, individual investors and opportunity funds.
“Financing for these properties continues to be difficult to find due to the higher risk and lack of cash flow, as these value-ad properties have significant vacancy and may also need some rehab work. They are being acquired at very favorable prices, often from a lender.”
These investors’ strategy, Williams adds, is to lease up the properties at the current, low rental rates and then sell them at lower cap rate within a 3-year time frame. Multi-tenant medical office is the favored property type, though well located multi-tenant office properties in the Southeast Valley, the Camelback corridor and North Scottsdale are also trading.
“While the office market is expected to remain soft for the next several years, the industrial market has been strengthening,” Williams says. “Institutional investors continue to prefer big box, single-tenant properties.  Life insurance companies are starting to invest in new, speculative construction of big box space based on the strong absorption in this segment seen in the past couple of years.
“Multi-tenant, small bay industrial properties are being acquired by private investment companies consisting of ‘friends and family investors.’ This Class B market is the most active.”

Yarnell Hill Fire

Wells Fargo Donates to Yarnell Wildfire Relief Efforts

Wells Fargo announced it has contributed $65,000 to the American Red Cross Grand Canyon Chapter for Disaster Relief funds and the 100 Club’s Survivor Fund in response to the Yarnell wildfire in Yavapai County.  Specifically, Wells Fargo will contribute $50,000 to the American Red Cross Grand Canyon Chapter for Disaster Relief and $15,000 to the 100 Club’s Survivor Fund for families of the fallen firefighters.

“The enormity of this loss is devastating, and we want to help our customers, friends and communities who have been so tragically affected by this fire,” said Pamela Conboy, Arizona Lead Regional President.  “We know our contribution will help fund the important work of the American Red Cross and the 100 Club in assisting victims of the fire. We truly appreciate their efforts.”

Wells Fargo customers can also donate to the American Red Cross Grand Canyon Chapter at 540 Wells Fargo ATMs in Arizona until July 22. Customers will not be charged a fee for using this service and 100 percent of the donations will be sent to the American Red Cross Grand Canyon Chapter.

Wells Fargo customers affected by the Yarnell wild fire in Yavapai County should contact their banker and visit their nearest Wells Fargo store to discuss financial options.  Customers who need assistance can call 1-800-TO-WELLS (1-800-869-3557) 24 hours a day, seven days a week.  Customers can also visit their nearest Wells Fargo store once normal hours of operation resume.

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Chacopulos among Top 100 Women Financial Advisors

Theresa Chacopulos, Senior Financial Advisor and Senior Vice President – Investments, at Wells Fargo Advisors, LLC, in Scottsdale, Arizona, was named to the prestigious 2013 Barron’s “Top 100 Women Financial Advisors” list.  Chacopulos was number 8 on the list.  This is her 6th time making the list.

The list, published annually, provides readers with a comprehensive, objective look at the top women advisors as determined by the volume of assets overseen by the advisors and their teams, revenues generated for their firms and the quality of the advisors’ practices.  Barron’s magazine is one of the industry’s leading publications.

Chacopulos has consistently been recognized for her client service standards at Wells Fargo Advisors where she’s been named a “Premier Advisor.”  The Premier Advisor program honors those advisors who are meeting or exceeding Wells Fargo Advisors’ highest standards of excellence.  Earlier this year, she was also recognized as one of Barron’s 2013 “Top 100 Financial Advisors” in the country, where she was ranked the number one advisor in the state of Arizona.  In 2011, she was inducted into Research Magazine’s “Advisor Hall of Fame.”

Chacopulos has been with Wells Fargo Advisors for 25 years and has 29 years of experience in the industry.  She is very involved in her community, choosing to dedicate her time to the Phoenix Zoo and Autism Speaks.  Her office is located at 8601 N. Scottsdale Rd. Ste. Scottsdale, AZ  85253.

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Wells Fargo Opens LEED Silver Banking Store In Tempe

 

Wells Fargo opened newest Arizona Community Banking store, which is designed and built to LEED Silver standards as set by the USGBC.

The 2,249 SF location, the 261st Wells Fargo banking store in Arizona, is at 20 E. University St. in Tempe.

“Wells Fargo understands the importance of promoting environmental stewardship in the communities we serve,” said Misha Patel Terrazas, Metro East area president for Wells Fargo in Arizona.

“In addition to our commitment to have 35% of our leased and owned buildings LEED certified by 2020, we also have introduced new envelope-free ATMs throughout Arizona and continue to provide support through grants and volunteerism by our team members to local nonprofit organizations that share our environmental commitment.”

Environmental features in the new store include:

>> Water saving plumbing fixtures and control devices help us cut water usage by up to 40%;

>> Energy efficient light fixtures and HVAC system help to reduce energy use by up to 21%;

>> Light harvesting system helps cut energy use by automatically adjusting indoor lighting for maximum use of available daylight;

>> Bike racks help reduce pollution impacts from automobile usage;

>> Increased use of recycled content, like porcelain tiles that contain 40% recycled content and insulation made from recycled cotton – including scraps of denim;

>> Fully recyclable materials such as counter surfaces comprised of recycled bottles and cement, carpet, and window shades divert these materials from the landfill at their end of life;

>> Sustainably grown, harvested and manufactured wood materials;

>> Low toxic paints and other materials and strict air quality management practices during construction contribute to a healthier environment;

>> Waste diversion during construction keeps much of our construction waste from ever seeing the landfill.

“Our vision as a company is to help our customers succeed financially, and this new store will make it even easier for our customers to connect with the full financial services that Wells Fargo has to offer,” said store manager Chris McCarthy. “We’re excited to be serving our customers in this new energy efficient store.”

 

A Guide to Applying for a Bank Loan

Wells Fargo opens LEED-Silver store in Tempe

Wells Fargo announced the opening of its newest Arizona Community Banking store, at 20 E. University St. in Tempe, on June 3.  The 2,249-square-foot location – the 261st Wells Fargo banking store in the state – is designed and built to Leadership in Energy and Environmental Design (LEED) Silver standards set by the U.S. Green Building Council (USGBC).  Wells Fargo has five LEED certified stores in Arizona.

“Wells Fargo understands the importance of promoting environmental stewardship in the communities we serve,” said Misha Patel Terrazas, Metro East area president for Wells Fargo in Arizona.  “In addition to our commitment to have 35 percent of our leased and owned buildings LEED certified by 2020, we also have introduced new envelope-free ATMs throughout Arizona and continue to provide support through grants and volunteerism by our team members to local nonprofit organizations that share our environmental commitment.”

Environmental features in the new store include:
· Water saving plumbing fixtures and control devices help us cut water usage by up to 40% compared with conventional buildings of the same type
· Energy efficient light fixtures and HVAC system help to reduce energy use by up to 21% compared with conventional buildings of the same type
· Light harvesting system helps cut energy use by automatically adjusting indoor lighting for maximum use of available daylight
· Bike racks help reduce pollution impacts from automobile usage
· Increased use of recycled content, like porcelain tiles that contain 40% recycled content and insulation  made from recycled cotton – including scraps of denim
· Fully recyclable materials such as counter surfaces comprised of recycled bottles and cement, carpet, and window shades divert these materials from the landfill at their end of life
· Sustainably grown, harvested and manufactured wood materials
· Low toxic paints and other materials and strict air quality management practices during construction contribute to a healthier environment
· Waste diversion during construction keeps much of our construction waste from ever seeing the landfill
*Compared to conventional buildings of the same type.
“Our vision as a company is to help our customers succeed financially, and this new store will make it even easier for our customers to connect with the full financial services that Wells Fargo has to offer,” said Store Manager Chris McCarthy.  “We’re excited to be serving our customers in this new energy efficient store.”

McCarthy joined Wells Fargo as a teller in 2001 and also has held positions as a personal banker and training consultant.  His store team will consist of 11 Retail Banking team members, including Service Manager Samantha Brock, four personal bankers and five tellers.  Representatives from Wells Fargo Home Mortgage and Wells Fargo Investments also will serve customers at the store.

The new store includes two ATMs with 24-hour access, a merchant night drop and an online terminal where customers can access their Wells Fargo accounts online. Hours of operation are 9 a.m. to 6 p.m., Monday through Friday, and 9 a.m. to 4 p.m., Saturday.

Prepare loan package, secure loan

Small businesses get loans in record numbers

A common complaint since the financial crisis began was that some of the Wall Street banks that were being bailed out by the federal government weren’t doing enough to help the mom-and-pop shops on Main Street.

“In 2008 when the recession hit, the impact on small business lending was pretty catastrophic,” said Greg Lehmann, managing director of Biltmore Bank of Arizona. “Not only did you have small businesses struggling with lost revenue and weakening balance sheets, but all the banks were retrenching and looking inward.  The unique element about the Recession was that it hit every business sector; small business, large businesses, banks, etc. Nobody was immune to its impact.”

In 2013, small business owners and entrepreneurs have a little more reason for optimism. So far this year, big banks are approving small business loans at the highest rate in more than two years, according to Biz2Credit, which calculates its monthly Small Business Lending Index using 1,000 loan applications made over its online lending platform.

“With an improving economy, Wells Fargo is growing new lending commitments, providing more dollars to help small businesses stay competitive today and for the long term,” said Jennifer Anderson, business banking manager for Wells Fargo Arizona. “The business owners who see increased demand for their products and services are investing in their businesses now. As business owners become more confident and find more opportunities to grow and improve their businesses, we expect to do more business.”

Wells Fargo literally puts its money where its mouth is. According to SNL Financial, the bank was the nation’s largest lender to small business in 2012, lending $32.8 billion to small businesses.

But Wells Fargo isn’t alone. If you look at recent reports, small business lending is up across the board:

* Biz2Credit found that big banks — those with more than $10 billion in assets — approved 15.9 percent of the small business loan applications in February 2013, up from 11.7 percent in February 2012. Small bank approval rates have also ticked up — 50.3 percent in February, up from 47.6 percent in February 2012.
* Government-guaranteed loans have increased 6 percent year-over-year in fiscal 2013. That represents $9.2 billion, an 18 percent increase over the dollars approved during the same period a year ago. Approvals in the last two years have set Small Business Administration records.

Despite the positive reports, the general belief is that small businesses aren’t getting loans, which isn’t true, said Dee H. Burton, executive vice president of Alliance Bank of Arizona.

“Yes, small businesses can get loans now,” Burton said. “At Alliance Bank, we have always been actively engaged in lending to small business — and we never stopped lending even through the toughest times of the Recession.”

What about the perception that lending standards have changed or tightened? That’s another misperception, bankers said.

“General underwriting guidelines have not really changed over the years,” Burton said. “Unfortunately, the Recession has made it more challenging for businesses to qualify. For most businesses, a reduction in revenue may have resulted in a negative impact on cash flow or resulted in a more leveraged balance sheet. Further, the value of assets which banks often look to take as collateral — equipment, real estate, accounts receivable, etc. — are not at the levels they were pre-Recession. All-in-all, these factors have impacted small businesses’ ability to meet the typical standards under which banks underwrite business loans.”

While Lehmann said banks were more willing to bend on some of the fundamentals prior to the Recession, he said banks always look to cash flow, collateral, and capital levels to make a credit decision.

At Wells Fargo, Anderson said lending standards have remained consistent. Before the bank extends credit, it looks for a business to show:

* Steady cash flow. Cash flow is a key indicator of a business’ financial health and its future prospects. When it can show reliable cash flow, we can see it has the resources to repay new loans.
* Debt load is manageable. Banks want to make sure a business has the ability to take on additional debt and is in a strong financial position to manage its debt payments.
* Good payment history. Payment history provides an important record of its ability to responsibly pay down debt.

As for lines of credit for small businesses, Ward Hickey, business banking manager for National Bank of Arizona, said, “Small business lines of credit are based on  business cash flow and collateral values. As both of these improve for small businesses in Arizona, the underwriting standards will ease and more small business lines of credit will be available.”

As the economy in Arizona continues to strengthen, bankers see a better environment for small business.

“We can point to a number of positive signs in small business lending,” Anderson said. “There is more small business activity in our stores, more small businesses are applying for credit, and loan delinquencies continue to decline.”

As businesses shift from survival mode to growth mode, the outlook for lending to small and medium-sized businesses — which Lehmann called “the life blood of the Arizona economy” — continues to be positive, which will help small businesses grow and add workers.

“Arizona will continue to be a growth state and businesses that have survived this Recession will be able to grow as the state continues to grow,” Burton said. “We see businesses are now investing in items such as new equipment and new expansion, which had been put on hold during the Recession. Businesses are also taking advantage of the current interest rate environment to fund their expansion.”

Lehmann agreed.

“As the economy continues to heal and grow,” he said, “so will the small businesses of Arizona.”

Increase Cash Flow, Reduct Debt

Millennials: Burdened by Debt Today

In a new Wells Fargo study on the attitudes and behaviors of millennials on money and saving,  more than half  (54%) say their top financial concern is debt. That’s right, primarily student loan debt. And 42% say their debt is “overwhelming” — twice the rate of boomers who were also surveyed.

Other key findings:
· Sixty-one percent of millennials consider themselves “a saver”.  The gender differences are big with 66% of millennial men calling themselves a ”saver” versus 56% of women
· About half (49%) of millennials have begun saving for retirement and the gender differences persist with 54% of men saving and far fewer — 43% — women millennials saving
· Millennials (43%) rate the value of their education as “a great value” and 45% say “somewhat of a value.”

Although millennials are burdened by debt, they are very optimistic about their future with 67% of millennials saying they believe they will be better off than their parents. Seventy (70%) are very to somewhat confident that they will be able to save enough to afford the lifestyle that they hope to have in retirement.