NB|AZ® makes strides to engage with Hispanic firms
Setting its sights on a growing and prospering Latino business community in Arizona, National Bank of Arizona continues to unlock exciting expansion opportunities for Hispanic business owners in the community. The bank is bolstering its commitment to the Latino market by building relationships with local Hispanic companies and creating new consumer and commercial loan opportunities for their needs.
“I think this is the beginning of an important and ideally long-term relationship,” says Marcos Garay, EVP, Director of Strategic Development, who recently joined NB|AZ to support new business development in diverse communities. “The Latino business community has already taken off and it’s a sophisticated community. It is a community that knows itself, knows what it wants, is hardworking and loyal. Those qualities coupled with the right approach and cultural understanding and the best service that we can deliver makes this an exciting and timely opportunity.”
Garay sees a bright future ahead for the Latino business community and the bank’s role in providing products and services to help foster growth in the market. According to the Hispanic Chamber of Commerce, Latino-owned businesses have doubled in the last decade in Arizona, making Hispanic entrepreneurs the fastest growing small business sector in the state. There are now an estimated 123,000 Latino-owned companies in Arizona.
“The time is right,” says Garay. “The Hispanic market has come into its own. At NB|AZ, we have the people, the products the delivery channels and all the resources and tools to be able to focus more on these businesses. In turn, we’ll be able to expand the scope and breadth of the bank’s footprint in the marketplace.”
Garay looks forward to developing strong, sustainable relationships with local Latino-owned businesses by providing services to meet their needs.
“One of the areas that are key to the growth of the Hispanic market is small- and medium-sized businesses and that is one of our core strengths,” says Garay.
Of course, he says, the push to engage the Hispanic market is also about understanding and embracing a cultural identity that extends beyond banking products and services.
“It comes down to understanding one another; it is about building a relationship,” Garay says. “In a nutshell, it’s about culture and, in my 30 years of banking, that’s always been the case. I’m passionate about connecting with the Latino market because building bridges is what I’ve done throughout my professional life.”
Story by Leigh Farr
Photography by Mark Lipczynski