Ash Patel started Premier Commercial Bank at the worst time possible. Two months before opening the doors, September 11th happened. It was a challenge to raise capital while the nation was grieving. Despite the tragic event, PCB was able to achieve its goal. Today PCB is one of the most successful banks in Southern California with an asset base of approximately $400 million.
I heard his story tonight at the TiE SoCal event and was inspired because here was a man who did not have the right background, heritage or timing but managed to start a bank in 2001 and grow it to $400 mn in 2009.
Ash ended his talk by talking about the things that he has learnt along the way
- America is a merit based society. If you have an idea and are prepared to work hard, success is possible
- Never give up. Ash spent $15,000 on his initial business plan with a goal to raise an initial $10 mn and the tragedy of September 11 happened. But he did not give up and started the bank with the $7.5 mn that was raised.
- Always keep wanting to grow. Not necessarily to make more money, but always growing your goal. For example – Ash’s goal is to take his bank to $1 bn.
- When you succeed help others succeed
More on Ash Patel from the TiE website
I know there is going to be a video of his talk posted soon, so keep checking.