Karen Farah has been a small business manager of EverBank since October 2007. Though she’s been with EverBank for three years, she was doing commercial lending until the bank decided to open a small business department and asked her to head that up last October. In her new position, she networks with small businesses to find out what their needs are and hopefully help move them from leasing space to owning a building or a condominium.
HER HISTORY?
She was in lending for 22 years with the same company as it made its transition from American Bank to SouthTrust to Wachovia. “I did everything from new accounts all the way up to commercial lending over those 22 years.”
HOW DID SHE GET HER START?
“I graduated high school and started right into banking. My mother is a retired career banker and my brother is a retired career banker. It’s in my blood.”
FAVORITE THING ABOUT LENDING
“I really like meeting the people’s needs, especially when it comes to a building. To see someone go from leasing to owning and to see them in their building for the first time is just the best.”
HOW DOES PREVIOUS EXPERIENCE HELP?
“It’s been great because I’ve had so many opportunities to build relationships through the years. When I was with SouthTrust as a business banker, I covered different areas of town, so I’ve just been able to meet so many people. There are so many small businesses in Jacksonville. There are 10,000 small businesses, just on the Westside alone. They are everywhere. I cover the entire city right now.”
BEST PROFESSIONAL ADVICE?
Surround yourself with experts. “You can’t necessarily know everything about everything. But, if you surround yourself with experts you’ll know where to go to get the information. They’ll always make you look good.”
HOW’S COMMERCIAL BUSINESS?
“People still call and people still want to borrow money. They still want to buy an office condominium or buy instead of leasing.”
ADVICE FOR NEW LOAN OFFICERS?
“It’s all about relationships. There are a lot of banks and lenders, so it’s really all about building that relationship and taking the time to nurture relationships. People still do people with people. They want someone to really understand their business. I really care about their customer and I care about who I’m lending money to.”
ADVICE FOR COMMERCIAL REALTORS WHEN DEALING WITH LOAN OFFICERS?
“The more information you can provide, the better, to help the get a financial package together. There may be a little variance on what one bank may require verses another one as far as financials, but there isn’t a lot of pre-approval in commercial lending. So, as much as a commercial Realtor can help to put that package together it just expedites the process so much.”
PROFESSIONAL ASSOCIATIONS?
Farah is the treasurer of the Commercial Real Estate Women of Jacksonville and mentor at the Jacksonville Women’s Business Center and a member of the Jacksonville Regional Chamber of Commerce and it’s Downtown Council.
- by Michele Newbern Gillis