Pan American Bank today announced that it has tapped Small Business Administration loan veteran Jose Juan Vega to lead Pan American Bank’s SBA loan efforts. Mr. Vega’s 15 years of SBA experience includes assignments with large multinational banking organizations, community banks and the Small Business Development Center (“SBDC”).
Pan American Bank announced in September 2012 its approval as an SBA lender. Pan American Bank’s SBA outreach efforts will include Los Angeles and Orange counties with a focus on the under-served small business communities of east and southeast Los Angeles County. Demographically these under-served communities are largely comprised of Latino and Spanish-speaking small business owners. Mr. Vega’s extensive experience serving this niche will provide Pan American Bank with a decisive advantage over other SBA lenders that do not possess an understanding of the nuances that are common in these communities.
“Pan American Bank’s ability to originate SBA loans and Jose Juan’s extensive experience will help Pan American Bank better serve the needs of its small business community,” said Pan American Bank CEO Jesse Torres. “Pan American Bank has existed for nearly 50 years due to its ability to create solid relationships with its small business customers. Our ability to offer SBA loans coupled with Jose Juan’s experience will enable Pan American Bank to strengthen existing relationships and create new relationships with our small business community.”
About Pan American BankEstablished in 1964, Pan American Bank is California’s oldest Latino-owned bank and the second-oldest Latino-owned bank in the United States. Headquartered in East Los Angeles, Pan American Bank has served the needs of the Latino communities in Los Angeles and Orange counties for nearly a half-century. Founded by the first Latina United States Treasurer, Romana Acosta Banuelos, the Bank has stayed true to its mission of transforming and empowering Latino communities through banking relationships built on trust, service, respect, communication, and guidance.