President, New York
Business Development Corp.
Name: Anna Tu
Title: Assistant Vice President
Company Name: New York Business Development Corp.
Years in real estate: 6
What real estate associations or organizations are you a member of? Various local chamber of commerce such as the Queens Chamber of Commerce and Brooklyn Chamber of Commerce. As a member, I am affiliated with the Queens Chamber of Commerce Real Estate and Brooklyn Real Estate Development.
How have you navigated obstacles to achieve success in your career? My love of the arts, which I pursued in my studies, drove me to the field of finance. I previously worked at a fine art lending institution that catered to high net worth individuals with unique types of collateral, such as fine and decorative art and stringed instruments. Currently, I have clients, such art galleries, art conservationists, and art storage facilities, that I have guided through various real estate acquisition transactions. I continue to help small businesses in the art industry, but I do it through financing. I find it amazing how two seemingly mutually exclusive fields have crossed paths.
How do you play your strengths to your advantage in your career? Finance and banking is still a predominately a male-driven environment so I’ve had to take a more aggressive approach in my career. I’ve also realized that being a minority—an Asian woman—is strength as I’m able to work in different markets, such as the minority- and women-owned business community. It’s also a strength that I work for a company with a mission of helping these communities and that supports my advancement in the commercial lending field.
What trends are you seeing so far this year? Banks are becoming increasingly involved with catering to small businesses and the middle market. Just three years ago, banks were a lot more particular about lending to a business; now they’re willing to take more risk. Multiple financial institutions are now chasing one borrower. This benefits NYBDC and me because we’re in the business of taking risk, lending to small businesses and having partnerships with banks. The market at present continues to improve in my opinion.
What do you do for fun? Anything outdoors – hiking, rock climbing, scuba diving…you name it! It is a great way to unwind and recharge.
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