America’s #1 small business lender celebrates the success of Asian business owners nationwide
The three awardees were selected from a nationwide pool of applicants and evaluated based on their innovation, financial success, and community service. The 2008 winners:
- Beverly Hills, CA-based Jimmy Au’s For Men 5’8” and Under, Inc. – James Y.C. Au
- Swanton, OH-based Grand Aire, Inc. – Tehmeena and Zachary Cheema
- Los Angeles, CA -based teamCFO, Inc. – Laura Yamanaka and Carrie Tsang-Hidding
“The dedication, innovation and success demonstrated by these business owners is truly inspiring,” said Iris Chan, head of Commercial Banking at Wells Fargo and national spokesperson for Wells Fargo’s Asian Business Services. “This year’s winners uphold and embody the sprit of this award. They’re leaders in business and in their communities."
The national award is part of Wells Fargo’s Asian Business Services program. Established in 2002 to provide outreach, education and increased access to capital to Asian business owners, the program forms key community alliances, conducts primary research and sponsors events to support the success of Asian-owned businesses.
Measuring its progress with a public goal to lend $3 billion to Asian businesses within 10 years (by 2012), Wells Fargo has loaned more than $2.6 billion to Asian business owners nationwide since 2002.
“USPAACC-EF is honored, with Wells Fargo, to recognize these outstanding Asian business owners, as they truly reflect the strength and diversity within the Asian-owned business segment,” said Susan Au Allen, national president and CEO of USPAACC -EF. “Asian-owned businesses continue to prosper across the country, and we’re excited and honored to continue the tradition of recognizing and celebrating their tremendous achievements."
Jimmy Au’s For Men 5’8” and Under, Inc., based in Beverly Hills, designs custom men’s clothing for men 5’8’ and under. Over the last 35 years, the company has grown from a simple suit shop to a full-service menswear store carrying sport, business and formal wear for shorter men and is the only business serving this specific market in the United States. Owner and designer Jimmy Au immigrated to the United States from Hong Kong in 1959 to embark on his education. After earning his bachelor’s degree in Business Administration, Au opened his first store in 1971.
teamCFO, Inc., based in Los Angeles, provides onsite financial solutions, including customized CFO/Controller services for small and mid-sized businesses. Established in 2000 by owners Laura Yamanaka and Carrie Tsang-Hidding, teamCFO fills a critical need for small businesses by providing advice and direct support focused on the operational aspects of accounting and finance.
Grand Aire, Inc., based in Swanton, Ohio, is one of the top freight and passenger air charter providers in North America. Founded in 1985 by the late Pakistan native Tahir Cheema, Grand Aire manages a network of over 3,200 charter aircraft and thousands of ground transportation vehicles stationed around the world. When Tahir passed away in 2004, he left the business to his three children –Shaun, Zachary, and Rebekah Cheema. Since taking over as CEO, Zach and his aunt Tehmeena, the current COO, have managed Grand Aire and will accept the award on behalf of the company and their family.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $595 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through almost 6,000 stores and the internet (wellsfargo.com) across North America and internationally. Wells Fargo Bank, N.A. is the only bank in the U.S., and one of only two banks worldwide, to have the highest possible credit rating from both Moody's Investors Service, “Aaa,” and Standard & Poor's Ratings Services, “AAA."
Wells Fargo is America’s #1 small business lender in total dollar volume according to the most recent Community Reinvestment Act data (2006) and the #1 SBA 7a bank lender in total dollar volume. Wells Fargo has loaned close to $36 billion to women, African American, Latino and Asian business owners since 1995. For more information, speak with a Wells Fargo banker, visit wellsfargo.com/biz or call the National Business Banking Center at 1-800-CALL-WELLS.
The US Pan Asian American Chamber of Commerce Education Foundation (USPAACC-EF) was formed in 1984 as a national non-profit organization representing all Asian Americans and Asian American-related groups in business. For the past two decades, USPAACC-EF has been promoting, nurturing and propelling economic growth by opening doors of contract, educational and professional opportunities for Asian Americans and their business partners in corporate America, the federal government, and the minority business community.
USPAACC-EF regularly holds Business Connections across the country to address issues that are important to the Asian American business community. USPAACC – EF also certifies Asian American-owned businesses through the Asian American Suppliers Council (AASC), a unique one-stop shop where Asian American suppliers increase their contacts and sales, and corporate and government purchasers diversify their supplier base. Headquartered in Washington, D.C., USPAACC-EF has a nationwide presence through its seven regional chapters in Northern California and Southern California in the West Coast, Texas in the Southwest, Georgia in the Southeast, Illinois in the Midwest, New York in the Northeast, and the National Capital Area.