As the child of entrepreneurs, Imanol Moreno grew up seeing business ownership up close. He spent time around construction sites, watched his father build a reputation through steady work, and absorbed lessons that came long before he had a business of his own.
A study published in the Journal of Political Economy found that children of entrepreneurs are 60% more likely to become entrepreneurs themselves, with both inherited and environmental factors contributing to that relationship. That means business ownership can transmit more than income. It can transmit skills, confidence, networks, and a model for turning work into assets.
For Imanol, that early exposure eventually became a goal. He came to Planters Bank while he was still working for a family business, with aspirations to start his own construction company. At the time, he was young, had limited credit history, and did not have much to offer a conventional lender. What he did have was a clear plan, a strong work ethic, and a desire to build the right foundation.
Planters started with a $1,500 savings-secured loan to help Imanol establish credit and demonstrate repayment discipline. At the same time, the bank provided informal coaching on what it would take to move from aspiration to operation, including guidance on business formation, required documents, and how to open an operating account. That early support helped Imanol prepare for the practical steps of becoming a business owner.
From there, the relationship grew in stages. Imanol opened personal and business checking accounts, maintained savings, and eventually launched Moreno’s Construction LLC. When the business was ready to purchase its first major assets, a truck and bulldozer, Planters provided $55,000 in equipment financing. Imanol had saved for a down payment, built a strong relationship with the bank, and earned references from customers who were also Planters customers.
That kind of relationship-based banking matters because small businesses are central to local economies. According to the U.S. Small Business Administration Office of Advocacy, small businesses make up 99.9% of U.S. businesses, employ 45.9% of American workers, and account for 43.5% of U.S. GDP. When banks help entrepreneurs move from informal experience to formal credit, from subcontracting to ownership, and from renting to homeownership, they are supporting local economic mobility.
As Moreno’s Construction grew, the impact extended beyond Imanol. The business expanded its service area, increased revenue, purchased additional equipment, and now supports Imanol and two employees. One of those jobs went to a recent high school graduate who wants to enter the construction field. Imanol now serves as a mentor, passing along the practical knowledge and financial lessons he gained while building his own business.
The relationship also helped Imanol move toward homeownership. After more than a year of operating his company, stronger business income and improved credit helped him qualify for an in-house mortgage loan through Planters. The same banking relationship that began with credit-building later supported business ownership and the purchase of a home.
Imanol’s story shows what can happen when a bank pairs the right product with steady guidance at the right time. A small credit-building loan helped open the door to business growth, homeownership, and a stronger financial future.
