May 20 Pages 25-36

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online edition: www.indoamerican-news.com

Business

Indo American News • Friday, May 20, 2011

www.indoamerican-news.com

Friday, May 20, 2011

25

IndoAmerican News

STOCKS • FINANCE • SOUTH ASIAN MARKETS • TECHNOLOGY

Southwestern National Bank Ready to Revitalize the Houston Economy

By Jacob David BELLAIRE: Southwestern National Bank is ready to breathe new life into the economy through disbursing its strategically accumulated wealth of 30 plus million dollars, their Tier One Capital, which the economists look at as their Capital Reserve fund, now standing at a healthy 8.9% The scenario at the SW National Bank has been positive, whilst the world all over is still reeling from the dizzying spell of the recession. “I am very optimistic about this year 2011 and the future,” Gary Owens says. “We have had $1.1

Million in profit (net income) just in the first quarter of 2011 alone. We are looking to having a growth oriented period in the following quarter as well.” he states. The bank has seen an increasing inflow of business especially for commercial loans, a majority of them sought out by Hasu Patel’s associates in the Hotel & Motel industry. In addition, loans for Raw Land developments like C-Stores, Shopping Plazas, Oil & Technology, Gas Stations - most owner occupied ventures are encouraged by SW National Bank. “We have an additional $10 Million set apart for loan loss

Photo: Jacob David Hasu Patel, Member on the Board, and Gary Owens, President & CEO, Southwestern National Bank discuss a business transaction

INDO AMERICAN NEWS • FRIDAY, May 20 , 2011 • ONLINE EDITION: WWW.INDOAMERICAN-NEWS.COM

contingencies, just in case.” Gary Owens says. “The SBA Loans need to ease up on their very many restrictions, this will help our economy grow,” Hasu Patel stated. The PKF Hospitality Reports and the Smith Travel Research have been giving positive indicators about the Hotel & Tourism Industry, yet SBA Loans are still being overly cautious. Businesses are encouraged to knock on the bank’s doors, because the bank is now ready to lend. Located: 6901 Corporate Dr., Houston, TX 77036 • Ph: 713-995-3200 • www.swnbk. com © Indo American News, 2011


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