Describe your background.
I am originally from Ethiopia and I moved to US when I was 13. I studied Biological Science in College but after graduation I was not interested in working in a lab so I got a job at E*Trade financial.
What made you decide to enter into the banking industry?
Once I started working at E*Trade in Finance I enjoyed the atmosphere dealing with people and helping in all aspect of the Market.
How did your career begin?
My Career began at E*Trade in 1999 working in customer service assisting clients with online trades.
Did you have any initial struggles regarding your career? If so, what were they and how did you overcome them?
The initial struggles were understanding finance and how stock market works and also how it affects every individual that I assist. I had to understand all new wordings and implementation of various rules. After taking class on Trades and the Market, I was more comfortable assisting clients and also understanding overall market.
What exactly does a Commercial Portfolio Manager do?
A Commercial Portfolio Manager assists clients with loans, manage the loan, and help grow their business. Once I have a client that I work with I assist them on any questions they have about their loan and their business needs.
Currently, what are the criteria to be approved for a business loan?
Basically the first step is a history of the business, like 3 years of tax return and the individual’s 3 years personal tax return with their personal financial statement to pull credit. As a Bank, we specialize in mostly Commercial Real Estate Loans more than business loans but we would also assist new businesses with the help of SBA (small business administration).
Describe your ideal applicant.
My ideal applicant will be someone who is looking to buy a commercial building and operate the business as well.
What is the marketing strategy in acquiring new and returning applicants?
Mostly email and referrals from existing clients and having a good relationship from day one.
Who do you feel is your biggest competitor in today’s market?
I would say Local Banks in the area and also large banks who are expanding their footprint in our area.
Describe your thoughts for the future of the banking industry.
The future of the banking industry is bright with more openness with our clients even though there are more new rules that have been implemented since the Market crash in 2009 but we understand it better.
What advice can you give to an entrepreneur regarding a start-up business?
I would say idea is good start but understand finance better meaning know your expenses and income also save money first for some cushion incase of unexpected expense so he/she would be ready for any surprise shortfall.
