Arizona is one of the fastest growing job markets, with 700,000 jobs projected to be added by 2030. At the epicenter of this growth is small businesses — more than 95% of Phoenix companies have fewer than 50 employees.
But despite small businesses driving this mammoth economic growth, Arizona is underserved when it comes to banking — a pain point that hits smaller businesses especially hard. The state has the fewest banks per capita, and a new bank has not expanded to the area since 2008.
Capital One is thrilled to expand our existing small business team in Phoenix, which focused on business credit cards, to include banking support with our full suite of products and services to support the growing business community. Capital One offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients, including tools and services designed specifically for small businesses.
Local business owners can now receive business lending support from Capital One Business Banking, including commercial real estate and investment real estate lending, cash management solutions, and guidance on personalized products and services to help them thrive. Six Arizona-based business bankers have joined Capital One’s business banking team to expand the bank’s footprint and offer their years of expertise to small businesses in the area, with more local hires to come.
A brand new Capital One Café has also opened in Scottsdale’s Fashion Square, where local business owners can find a quiet space to conduct business, enjoy a handcrafted beverage, and much more.
Sel Nutor is Capital One market executive with Arizona Business Banking.