Ethical Ethos: New Bank Serves Green Community
Mar 01, 2007 03:07PM
New Resource Bank, a cutting-edge commercial bank debuting in San Francisco, is on a mission to meet the financial needs of green entrepreneurs and sustainable businesses. Founder and vice-chairman Peter Liu believes most banks are missing the big picture.
For years he’s witnessed venture capitalist and pension funds investing in clean and green technologies while banks generally have not. He explains that, “Oftentimes there are boxes that banks put things in, and they haven’t created a box for ‘organic’ or ‘renewable,’ where they can understand the credit needs of these businesses.” Nor, evidently, their advantages.
Liu’s held top positions at global banks Credit Suisse and Chase Manhattan. In this new resource model he’s joined by 240 founding investors expert in green building, clean tech and organic trade.