Wells Fargo Bank sponsored the 49th Annual Small Business Week Award Celebration on June 5th 2012 at the City National Grove in Anaheim, CA. The event recognized local small business entrepreneurs and champions for their essential contributions to the American economy and way of life. In the current economic times, small business proves to be the nation’s most valuable asset—providing one of the few avenues for jobs and economic growth.
SoCalCEO representative Vivian Ecclefield spoke with Bryan Moeller, Director of Small Business Banking at Wells Fargo Bank, about the current trend in job creation throughout America. According to Moeller, “roughly 90% of the jobs created in America are from small businesses” rather than large corporations. Recognizing the necessity of small businesses to the American economy, Wells Fargo graciously chose to sponsor this year’s Small Business Awards. EDA (Economic Development Agency) District Director for the Santa Ana District, Adalberto Quijada, related how “it’s important for us to sustain strong relationships with the lending industry across our region and across our country to ensure that they are really supporting and embracing small business growth and expansion.”
While the improving relationships between lenders and small businesses continues to benefit new and upcoming companies, this year’s winner of the Small Business Person of the Year Award was successful despite all odds. Marcos and Carmen Montalvan, Cuban immigrants and owners of a food importing company—Montalvan’s Sales, Inc—achieved their American Dream after risking it all and taking a loan against their house. To Carmen, the award represents “every effort in [her] business life [coming] together.” The Montalvan’s success has undoubtedly attracted lenders’ attention, and contributed to Quijada’s claim that “we’re seeing banks stepping up to the plate…because they recognize small businesses have regained strength in terms of their credit-worthiness.”
With Wells Fargo continuing to provide great contributions to small businesses across the country, partnering with the SBA (Small Business Association) in order to recognize outstanding small businesses serves as a succinct example of the crucial lender-small business relationship. According to a 2012 Wells Fargo news release, the company provides loans to “qualifying businesses in a wide range of industries that in general have average revenue of less than $20 million and 500 or fewer employees.” Encouraging news to small companies in virtually any business arena in the country. On top of that, Wells Fargo has been the number one lending institution to small businesses for the past 9 consecutive years. In the first half of the 2012 fiscal year alone, Wells Fargo approved more than $548 million in SBA 7(a) loans nationwide.
By having Wells Fargo proudly and publicly announce their allegiance to American small businesses, a clear message is sent to other financial institutions regarding the profitability of small business loans. Moeller understands the shifting dynamic apparent in American business in that “our economy is so dependent on adding jobs, and our small business owners today are probably the most important part of the economic recovery going on right now.” Perhaps the essentiality of the small business in America’s economic recovery will even upset the reliance on large businesses and corporations throughout the world. As Quijada observed: “the world looks to America as to what is in the future, and…small businesses are really setting the trend…because they are so responsible for employing people, I think that’s really where we’re going to see the future.”
LED Lighting – The Future of Light Management NECA and Xeralux work together to help reduce energy costs LED lighting is the future of electrical lighting solutions, helping reduce energy use and associated costs. NECA (National Electrical Contractors Association) and Xeralux, a Silicon Valley based LED lighting company, have partnered up to bring affordable and sensible lighting solutions to cities, schools and businesses seeking to improve their energy saving. David Shankle, Executive Director of the Southern Sierras Chapter of NECA said “LED lighting can save the average city, school campus or business facility about 50-70% of the lighting portion of an electrical bill. That’s a huge savings.”