San Antonio bank cracks open new account for entrepreneurs, high-growth businesses
July 06, 2016|By Kristen Mosbrucker
Brent Given - President and CEO
The Bank of San Antonio is rolling out an account for entrepreneurs, particularly for high-growth companies that may otherwise fall through the cracks in the commercial banking landscape.
It's an effort to engage with the next generation of business owners for a bank that was chartered after the 2008 financial crisis by local shareholders, said the company's CEO."We wanted to give the attention to these emerging entrepreneurs as we would a middle market commercial business," said Brent Given, president and CEO of The Bank of San Antonio. In some industries, that growth can be explosive and doesn't follow the same trajectory as small lifestyle businesses — like technology startups.
"They can be a $100 million company within a couple of years," Given said. "We wanted to have everything that the big banks have, but also a one-on-one relationship that can give access to our client community, directors and shareholders."
Some of the faces on this new account may be familiar to the San Antonio business community. It includes Alex Oberman, co-founder of Flo Music, a music sharing mobile app and Johnny Owens, founder of Owens Recovery Science. Owens started his sports science product company in 2015 and now sells equipment to the San Antonio Spurs and dozens of other professional sports teams. But the scope isn't limited to just tech startups. Givens said the bank's shareholders noticed that business owners in the millennial generation are much more interested in an entrepreneurial business model and already expect professional services to be seamless, digital and mobile friendly.
Read this article in the San Antonio Business Journal here