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Neighborhood National Bank

3511 National Ave
San Diego, CA 92113

Contact: Ricardo Huerta,
Phone: 619-789-4211
Fax: 619-789-4487
URL: www.mynnb.com
Email: rhuerta@mynnb.com
Neighborhood National Bank

Neighborhood National Bank (NNB) is a full-service bank and community development financial institution (CDFI). A catalyst for economic development in San Diego, California, NNB is committed to providing loans and financial services to businesses in the community. Since 1997, NNB has provided under-served communities with financial products and services which help customers build wealth through loans and savings

Program

NNB provides traditional banking services including checking and savings accounts, as well as special accounts that provide opportunities to those who are underserved or working in underserved communities. Through NNB's lending programs, the bank works to help entrepreneurs and businesses create and retain jobs, especially for low to moderate income individuals. NNB provides lines of credit, commercial loans, short and long term loans, and SBA loans. NNB is a preferred SBA lender, and as such can work quickly to meet customers’ SBA loan needs.

One particular loan program, SCOPE (Special Credit Opportunity Program Enterprise), allows NNB to offer loans to businesses in targeted neighborhoods, with incentives and interest rate discounts based on their willingness to stay in these communities and hire workers from the local community.

NNB's affiliates, NOC and NCA help the bank further its mission of community development by offering additional services which compliment those offered by NNB. NOC provides technical assistance and established a database of services to residents, businesses and community groups. More specially, NOC offers financial literacy to members of the communities while NCA facilitates the investment of capital into small businesses and community development.

Client Population

The Bank serves low- and moderate-income areas, true to its original mission. NNB works to ensure they are not serving consumers whose needs could be met by the bank next door; instead NNB works to meet the needs of those without access to basic financial services. NNB operates throughout San Diego County, and its clients represent the diversity of the communities it serves. The NNB's clients are traditionally underserved by other financial institutions or are clients dedicated to the mission that NNB has set out to follow. The majority of the bank's loan and deposit clientele are minorities and women.

Impact

Since inception, NNB has provided more than 1,250 loans. NNB has also worked diligently to provide sound loans. The bank’s historical losses have always been less than 1%, which is particularly impressive because NNB provides services to an underserved market. As of December 31, 2006, NNB operated with assets totaling over $102 million and a loan portfolio totaling over $79 million. Each year, NNB accomplishes its goal of serving underserved communities by disbursing millions of dollars in small business, consumer, and affordable housing loans.

Story

Neighborhood National Bank
Aldrica Lattimore is President and CEO of Accurate Engineering Integrated Construction Services, Inc., a company she, her husband, and his brother began in 1994. Their company does construction work for governmental agencies, including the city of San Diego, the Navy and Marine Crops, and the General Services Administration. Two years ago, a loan from Neighborhood National Bank helped the firm expand its operations. By all accounts, we shouldnt have survived, says Lattimore, referring to the difficult early years. However, with the Lattimores experience, and some help from NNB, their firm was able to succeed in the tough business of construction. Full Story

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