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Arizona Banking Landscape free eBook outlines key challenges for local small businesses

Posted By Julie Smith, Horizon Community Bank, Wednesday, May 4, 2016

Arizona small businesses want loans, but are baffled why they are still so difficult to obtain even after the recession is over. When it comes to Arizona’s banking landscape and how it directly impacts local small businesses, an eBook released today byHorizon Community Bank outlines a few key challenges that are top-of-mind in the industry and why they are happening. Each challenge in the eBook drastically impacts local businesses in Arizona, a state particularly hard hit by the recession.  Main challenges discussed in the free eBook include:

  1. We expect seamless, smooth service online and off, yet the actual customer experiences banks deliver are slow to improve.
  2. Banks are hampered, sure, but where’s the innovation?
  3. Satisfaction & loan approvals are higher at small local banks, yet new banks aren’t opening.
  4. Corporate America.... Corporate Arizona... has money, but they aren’t spending it.
  5. Excessively tight laws continue to negatively impact business loan approvals.


“Banks are losing ground to online lenders and crowdfunding platforms who don’t have compliance issues and can more easily deliver a streamlined customer experience,” said Jerry Ernst, president and CEO of Horizon Community Bank. “The problem? Non-bank lenders aren’t subject to the Truth in Lending Act or regulation. It’s a Wild West out there and small businesses are getting burned. They’re turning to easier solutions without understanding the true cost over the life of their loan. They need to know that loan approvals are highest at small local banks and why that matters.”

The free eBook can be downloaded here and is released in conjunction with National Small Business Week (May 1-7, 2016).

Ernst continues, “This complicated beast of an industry can’t change unless it’s helped along–banks, politicians and businesses working together to untangle this incredibly complex knot that’s been created as a knee-jerk reaction to the recession. We need to recognize the issues and join together in solving them.” Perhaps this ebook can be a start.

About HCB

Horizon Community Bank is a locally owned and operated FDIC insured bank with branches in Fort Mohave, Lake Havasu City, Mesa, Parker and Quartzsite. It has almost 80 employees and provides high-touch, customized financial services to those in the healthcare, transportation, real estate, and technology industries, as well as general commercial and consumer services. Horizon Community Bank is a subsidiary of holding company Horizon Bancorp, Inc.

Horizon Community Bank supports local communities. May’s non-profit partner of the month is Lake Havasu Unified School District #1. Learn more at


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Tags:  Arizona  Arizona Business  business lending  economy  press release  Small Business 

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