Independent Banker - February 2023 - 68

Microloans with a side of lemonade
De novo Scottsdale Community Bank set out to provide microloans to small and mid-size businesses, family
organizations and nonprofits-a project that was inspired by the humble lemonade stand. By William Atkinson
cottsdale Community Bank is
the first new community bank
in Arizona in 14 years, and it already
has the capacity to make more than
$100 million in loans.
Why? The $28 million-asset
community bank in Scottsdale, Ariz.,
embraces a combination of the latest
technology and traditional beliefs
about finance and business growth.
The technology it uses allows it to
maximize efficiency while minimizing
costs in its operations.
But for all its embrace of
technology, the community bank
took its inspiration for an innovative
lending program from an old-school
tradition: kids' lemonade stands.
Scottsdale Community Bank's
Lemonade Stand Loan Program offers
microloans-up to $25,000 each-to
small businesses and individuals
who own businesses or operate
nonprofit organizations.
With its microloans, Scottsdale
Community Bank offers small
businesses within the community an
S
" We have a vision of public-private
partnerships, which, if created
appropriately, can be a win-win for both
local governments and their communities. "
-GEORGE WEISZ, SCOTTSDALE COMMUNITY BANK
opportunity for new growth. " They
need a place that will listen to their
financial needs, " says George Weisz,
chair of the board, " and to their
dreams of being independent, having
financial security, contributing to the
community and providing resources
for their families. "
Name:
Scottsdale Community Bank
Assets:
$28 million
Location:
Scottsdale, Ariz.
The aim of the program is to help
small businesses take advantage of
time-sensitive opportunities where
funds are needed quickly and sustain
their existing organizations or reach
the next level. The community bank
provides the same amount of due
diligence to these microloans as it
does for all other loans but with ease
in application and process. It also
customizes the terms of the loan
based on factors such as business
goals and financial history.
A business bank with
personal service
Scottsdale Community Bank, which
opened in January 2022, was the
result of a decade of work by Weisz
and his colleagues on their vision
for a cutting-edge business bank.
The community bank specializes in
providing top-line banking services
to small and mid-size businesses,
family businesses and nonprofits. The
diverse board, staff and leadership
team aim to implement a plan of
" doing well for investors by doing
good for the community. "
" We are a dynamic bank for a
dynamic community, and we conduct
business in one of the fastest-growing
areas of the nation, " Weisz says. " We
are changing the face of business
banking in Arizona by combining
cutting-edge fintech technology with
true relationship banking. "
Besides using the latest technology,
Scottsdale Community Bank relies
on truly personal service. In fact,
every client has the cellphone
numbers of Weisz and bank president
Neill LeCorgne.
As well as being the inspiration
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