Entrepreneur magazine named Haven Trust Bank to its 'Hot 100' list

Earlier this year, Entrepreneur magazine named Duluth-based Haven Trust Bank to its annual list of the "Hot 100" fastest-growing businesses in America, achieving a rank of No. 44, based on it 2007 finances and growth.

The bank, which opened in January of 2000 with one location and eight employees, had four branches and almost 80 employees by July 2008, with assets approaching $525 million.

"We started our community bank as a way of helping entrepreneurs – especially in Atlanta's thriving Asian-American community – who were not being properly served by big banks and other traditional lending sources, so it's a particular honor to be recognized by a magazine that celebrates the entrepreneurial spirit," said Mukesh "Mike" Patel in that article earlier this year.

Patel was among the founders of Haven Trust Bank and had served as chairman since the bank's inception.

The bank focused on entrepreneurs and had customers throughout the country. It touted its simplified application process, innovative financing, and fast local loan approval – often as quick as 24 hours.

Among the founders of Haven Trust Bank were numerous prominent local Indian-American business leaders, including Balvant "Bill" Patel, Dhiru "Danny" Patel, Mukund "Bobby" Patel, Narendra "Tony" Patel, R.C. Patel, Brij Kapoor, and the late Dr. Sumant Patel.

Entrepreneur magazine's "Hot 100" list is in its 14th year, with criteria for consideration this year including a business founded between 1999 and 2003 which had annual sales of more than $100,000 in 2003 and no more than $1 billion in 2007.

Haven Trust Bank was the highest-ranked of four Georgia companies in the listing, all of which are located in metro Atlanta. Only two banks were on the list, with Haven Trust Bank being the highest ranked.
- www.northfulton.com

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