As part of a larger series, the Business-Journal is highlighting the First Coast's emerging startups, tech innovators, lenders and players in the region's ecosystem. To better introduce the region to the area's lenders, the Business-Journal sat down with Jim Branch, the Jacksonville market executive for Regions, to learn more about the bank and some of the programs it offers the First Coast.
Tell me a little about your lending institution and how it engages local tech innovators and startups?
Regions takes a holistic approach to banking. Our focus is to not only meet the needs of today – but also to position our clients to succeed in the future. This guides our approach to service to all of our clients, from individual consumers to small businesses and more. Jacksonville is a community that is defined by innovation and progress. As we work with companies we focus on providing advice and guidance through a needs-based conversation called Regions Greenprint. This helps our bankers fully understand the customer’s business. We are then able to leverage our bankers’ insights and the range of options we provide to develop customized solutions for clients to meet their financial goals.
What are some of the programs you offer startups?
First, one of the greatest resources we offer is our experience. A lot of people have moved to Jacksonville, and they are discovering what makes this such a great place. We have been here for many years, and we welcome new clients – from startups to longtime businesses that are looking for a source of financial advice and guidance. While we have a lot of technology-powered tools to serve clients, we also place a premium on taking the time to listen. We do not believe in one size fits all. Instead, we take a consultative role throughout our business groups to meet clients’ needs. Examples include partnering with different lines of business, like our Private Wealth Management team, Commercial Banking, or Treasury Management. We must focus on our customers so we are able to provide customized solutions that meet their unique needs.
Do you offer any specific programs for minority-owned or women-owned businesses?
Every day, Regions Bank is committed to creating more inclusive prosperity. Likewise, the Regions Foundation, which is a nonprofit initiative primarily funded by Regions Bank, supports initiatives that help level the playing field and create more inclusive opportunities for success. The Regions Foundation committed $1 million last year to the National Urban League over the period of three years to support its Entrepreneurship and Business Development Program in multiple cities. The Jacksonville Urban League affiliate was chosen to receive part of that grant. In addition, Regions Bank will also provide free financial wellness training to Entrepreneurship and Business Development program participants.
What are one or two things you would most recommend to a startup looking for funding?
Conduct a careful review of your business plan, and don’t be afraid to ask for the insights of financial professionals and others who help businesses move from concept to reality. Whether it’s a local business banker at Regions, or perhaps accelerator programs or nonprofit business incubators, there are many resources available to you – often for free – to provide some advice and guidance on what you need in terms of a financial foundation. They can also help you see opportunities or even risks in your business plan that can help you create a stronger company. We welcome the ability to share our experience wherever we can.
What are your thoughts on the First Coast ecosystem and what do you think is needed?
Jacksonville and the First Coast represent a community like none other. We have the benefits of a strong economy and incredible scenery, coupled with the energy, diversity and forward-thinking approach of community members who are writing a new chapter in our history. True, we have challenges still with the Delta variant and ongoing impacts of COVID-19, and we don’t want to minimize those. There are still challenges ahead. But business owners and community members have proven resilient, and we believe we are positioned better than most communities across the country to build a stronger future in the months and years to come.
