First American Bank is constantly working on behalf of its small, middle-market, and family-owned business clients. As a family-owned business ourselves, we know that these companies play a vital role in the communities we serve. These businesses are the backbone of the U.S. economy and the foundation of our bank’s approach to supporting the American entrepreneurial spirit.
Our advocacy for small and mid-sized businesses stems from understanding their value, and knowing these businesses are typically underserved by the current banking (eco)system. Once a business reaches a certain size, community banks generally do not have the financial resources or specialized expertise to support them with the services and products they need to continue growing. At the same time, larger corporate financial institutions often overlook the opportunities these companies present and do not give these business owners the attention they deserve.
Over the past five decades, we at First American Bank have made it our mission to support and empower these underserved small and middle-market companies to ensure their continued growth and their vital contribution to our local and regional economies. These businesses effectively create new jobs, provide vital sources of tax revenue for communities, and collaborate with larger businesses to generate new ideas and processes that positively contribute to our economy.
We have been involved with the Council of Development Finance Agencies (CDFA) for over 15 years. Working with this team, our lenders provide their financial expertise to help assist local and state development authorities in promoting economic development and job growth through education and advocacy. The mission is to preserve and expand federal programs such as tax-exempt bonds, enterprise zones, and New Markets Tax Credits that provide capital to small and mid-sized businesses. It is through working with trade associations like this one that we are able to extend past our traditional role of solely providing financial support, and work to shape and improve the business environment for companies across the country.
Through our partnership with the CFDA, we have the platform to speak on various topics at CDFA conferences, serve on their legislative committee, and meet with members of Congress to encourage the expansion of tax-exempt bonds. Our work alongside this team has also given us the important opportunity to propose new legislation for these bonds that we think will provide immense benefit to companies of this size and encourage their continued expansion.
Regardless of company size, we believe it is crucial for all businesses to have a reliable, experienced financial partner by their side who meets their needs and helps achieve their objectives. At First American Bank, we understand the importance of the force behind the entrepreneurial spirit because that is who we are—privately owned and operated.
Our team is distinct in our approach to client relationships. We provide seasoned relationship managers, accessibility to decision makers, and tailored personalized solutions. We leverage our focused experience to continue helping our clients achieve the future they have always imagined for their businesses.
This is how we advocate for you. We get involved. We service. We create solutions. Most importantly, we give you access to the experience, intelligence, and people who know what it takes to grow a business.
For more information on First American’s small business solutions or to speak with a banker, visit us here.
