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A native of Colombia, William Pazmino began his career there as a practicing physician, also achieving a Master's Degree in Business Management along the way. Before immigrating to the US, Pazmino was employed by Pfizer, one of the world’s largest pharmaceutical companies, serving as the Marketing Director for the CeLa Region, which included Colombia, Venezuela, Ecuador, Peru and Bolivia. In this position he was responsible for a sales force of over 500 people and a line of products that generated sales in excess of 100 million dollars.
Once in the United States, William earned a MBA, with a concentration in finance, from Rider University in Lawrenceville, New Jersey. Now pursuing a career in the world of finance, William joined RBAC at the end of 2003, which was then a small community micro lender servicing the City of Trenton and its three surrounding counties, while struggling to keep doors open. The company, then in its infancy, had little equity and was reliant on grant income for its survival.
After serving for several months as a loan officer, RBAC ‘s Executive Director left the company to pursue other interests and William agreed to act as the interim Executive Director while the Board of Directors sought qualified candidates to assume the position. As a result of that search, it was determined that Mr. Pazmino’s skill set was just what they were looking for, and William accepted their offer to assume the helm at RBAC.
As Executive Director, Pazmino set about to redirect the company’s efforts by developing new credit policies while seeking alternative sources of revenue that would assure that RBAC could continue to carry out its mission to provide much needed financing and training programs to assist struggling small business owners in New Jersey. Pazmino’s main objective at that time was to look for programs that would allow the company to obtain financial self-sufficiency and long term sustainability. Accordingly, Mr. Pazmino made a push to get RBAC certified as a CDC and in the middle of 2007 the U.S. Small Business Administration granted RBAC that designation. Since that time the company, under Pazmino’s direction, has become a very successful entity and the largest CDC in NJ – growing a portfolio valued at over 210 million dollars, with over 300 active clients.
In the spirit of expansion, RBAC was one of the first community development lenders to undertake the new Community Advantage (7a) loan program and last year RBAC was recognized by NADCO as one of the largest CA lenders in the nation. Since the new program’s inception in 2012, RBAC has approved over 100 CA loans and closed 70 of them, totaling in excess of 10 million dollars. Best of all, 100% of these active loans remain in good standing, despite a more challenging economic climate.
Of course, this tremendous success would not have been possible without the support of the dedicated RBAC staff, which is now comprised of 15 full time employees. RBAC's financial position has changed for the better and now it is very strong position with 10 million dollars in assets and nearly 4 million in equity.
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