New Resource Bank has opened its first branch outside its home base of San Francisco with an eye toward furthering its green-lending mission.
The $293 million-asset bank announced in a press release this week that it opened a loan production office in Boulder, Colo., its second branch overall. Susan Graf, a former head of the Boulder Chamber of Commerce, will serve as the regional business development manager at the new office.
New Resource Bank targets environmentally sustainable businesses and nonprofits. The bank said that it "grows socially and environmentally responsible small businesses that are providing living-wage jobs."
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New Resource Bank in San Francisco said Thursday that it had raised $7.7 million through a private placement.
January 26 -
Rather than simply considering whether a prospective borrower's business contributes to climate change, banks are slowly turning their attention to making sure borrowers in a variety of industries account for how climate change could affect them.
August 18 -
For William Thomas, sustainability is a constantly evolving mission. The early targets energy, waste, paper and employee involvement such as reduced air travel have mostly been achieved. Some of the bank's steps will require a different approach.
August 19
"We chose Boulder as the location for our second office because of the high values alignment between the Colorado market and our mission," Chief Executive Vince Siciliano said in a news release. "Over the past 10 years we have built a deep expertise in lending to sustainable businesses. We look forward to successfully serving the sustainable-business community in Colorado."
