Tuesday, May 20, 2008

Opportunity Bank hires small business expert to establish, oversee SBA program

Richardson based bank extends helping hand to small business owners

BY Rebecca Speer

Small businesses must often overcome nontraditional obstacles

RICHARDSON — Opportunity Bank, N.A., a locally-owned and operated bank in Richardson, today announced that Derenda Fisher has been named vice president and Small Business Administration (SBA) lending officer, joining the Bank in May 2008.

With more than 16 years of SBA experience, Fisher will be responsible for managing SBA accounts and establishing the SBA Preferred Lender and SBA Express programs. The Preferred Lender program will expedite SBA loan processing and allow Opportunity Bank to approve more commercial loans for its small business customers. SBA-guaranteed loans can help to mitigate collateral shortfalls and can provide the borrower with extended loan terms and small down payments.

“Developing an SBA program is the next strategic step for Opportunity Bank, and Derenda will help drive our growth and development in our ability to serve small businesses,” said Bud Heflin, president and CEO of Opportunity Bank. “Her experience as a lending specialist with the Small Business Administration and her wealth of knowledge on the banking side of SBA lending will be valuable for us and our business customers.”

Fisher will also be responsible for obtaining approval for Opportunity Bank to participate in the SBA Community Express program. This program is designed to help small businesses owned by women, veterans, minorities or businesses located in low or moderate income areas. Additionally, she will request approval for the Bank to participate in the SBA’s new program, Patriot Express, which is designed to help small businesses owned by veterans, disabled veterans and spouses or widows/widowers of veterans.

Prior to joining Opportunity Bank, Fisher developed and managed the SBA programs at One World Bank in Dallas and First International Bank in Plano. She also served as an SBA credit approval officer for four years at Bank One in Dallas, where she was involved in the development of its SBA Community Express Program.

“I’ve focused my career on helping small business clients and have a deep understanding of SBA lending and what it takes to manage the different aspects of a bank’s SBA division,” said Fisher. “I was impressed with Opportunity Bank’s factoring and commercial asset-based lending services and am looking forward to being a part of the team and developing a strong SBA program.”

Fisher earned a bachelor’s degree in management from the University of Texas at Arlington and attended the American Banking Association’s National Commercial Lending School in association with Southwestern Graduate School of Banking at Southern Methodist University. She is a former volunteer for the Dallas Small Business Development Center, where she taught classes on preparing business plans for small businesses.

About Opportunity Bank

Opportunity Bank, N.A., serves Richardson and the surrounding communities by providing retail and commercial banking products and services, including SBA loans, asset-based lending, accounts receivable purchasing, real estate loans, equipment financing, remote capture and money market accounts. Opportunity Bank is committed to providing excellent customer service and relationship building to all of its customers and is a member of the Federal Deposit Insurance Corporation. For more information on the Bank and its products, visit the Opportunity Bank Web site.

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