Sturges Explores Small Business Bank Start-Up
Consumers have almost unlimited choice when it comes to banking in the Charlotte area. Not so with small to mid-sized enterprises, and thats why a group is exploring starting one called CommerceBank (proposed). According to Wesley Sturges, who is leading the effort, Charlotte needs such a bank.
(PRWEB) March 3, 2005 -- Consumers have almost unlimited choice when it comes to banking in the Charlotte area. Not so with small to mid-sized enterprises, and thats why a group is exploring starting one called CommerceBank (proposed). According to Wesley Sturges, who is leading the effort, Charlotte needs such a bank.
Virtually every net job added in the past year was created by the 22,000 small businesses with fewer than 50 employees. Yet few of the banks in Charlotte -- particularly the big ones -- have taken a keen interest in our primary economic engine," says Sturges, the founding President and CEO of First Commerce Bank that was bought by Bank of Granite. Mergers continue to swallow the personal service banks, and small business is left with no financial advocate."
Sturges says he has done a feasibility study, and the numbers support his case, a case he made to some 80 people at an invitation-only meeting recently at Myers Park Country Club.
Everyone at the meeting was extremely supportive and positive about the start-up. In fact, commitments from the people in attendance and a few who couldnt make it place us well on the way to our start-up capital goal," he says.
Midtown Charlotte will be the first physical location for CommerceBank (proposed), while digital technology virtually places a branch on every customers desktop. Sturges says the bank will hire experienced loan officers who will guide and counsel business owners, not just take orders. Courier service and extended deposit hours are also planned.
Small business owners will form the nucleus of the board of directors. They know the needs of small business and will help set the banks overall direction. Weve already identified successful business owners who are ready to serve," Sturges says.
CommerceBank (proposed) can be found on the web at http://www.commercebanknc.com.
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