Rob Maldonado’s career in banking spans three decades, but his path to commercial lending was anything but straightforward. For 25 years, he thrived in the retail banking space, mastering the art of community-focused financial services. However, as the industry evolved, so did Rob’s ambitions. He saw an opportunity to make an even greater impact—helping small businesses grow, creating jobs, and strengthening the local economy.
That drive led him to First Commonwealth, where a conversation with Chief Lending Officer Terry Grier turned into the perfect match. Now, as Vice President, SBA Relationship Manager, Rob is committed to empowering entrepreneurs with the knowledge, resources, and financial solutions they need to succeed. Join us as we dive into his journey, his insights on small business lending, and his passion for community engagement.
Talk to us about your career journey and how you made your way through the financial industry. You’ve spent 30 years in the financial industry—how did you end up here at First Commonwealth as the Vice President, SBA Relationship Manager?
Well, thank you for the great question. I know we don’t have all day, but I’ll try to shorten my origin. When you mentioned 30 years in banking, I spent about 25 of those years, believe it or not, always on the retail side. I never transitioned over to the commercial lending side, which is something I’ve always been intrigued by. But the retail side kept me very busy for 25 years, and you become complacent.
As time changed, as the industry changed, as the economy and environment changed, there’s a lot of convenience now with banks—mobile deposits, online banking, things of that nature—which minimizes the foot traffic into a Financial Center. But one of the things I’ve always been big on is helping the local community. And one of the things I wanted to do was understand the business side. In order to grow your community, you must understand the small business and commercial lending side.
Right now, in my career, before I jump into the commercial side, I still have goals to achieve. We're sitting here in 2025, but by 2027, I would like to be a Senior Vice President managing a business portfolio, just like I did on the retail side.So I continue to educate myself on that.
The reason I mention that is, going back to regional banking, I mastered that, and then, knowing I wanted to wear many hats to grow my career, it was time to tackle the business entity. That’s how I jumped into the commercial side. It’s a different beast, a different nature, a different industry, different clientele, and different expectations. Now you’re working with numbers, looking at tax returns, projections, assisting with business plans, and really helping businesses grow. If you can have a business grow in your local community, you’re opening up employment opportunities for local mom-and-pops that live in the area.
And throughout my 30 years of banking, it’s always been very important for me to network, but always keep the lines of communication open. I was very fortunate to cross paths with Terry Grier, our Chief Lending Officer. We had a conversation about two years ago, and he asked me, “Rob, would you come and head our SBA program and some of our commercial lending programs?” It was a match made in heaven, and after a great conversation, you fast forward and here I am.
For our viewers who might not be familiar with SBA loans, can you explain a little about what that is and who could benefit?
Yes, thank you for that great question. Our SBA program, we hone in on two types of loans. We have the SBA 7A product and the SBA 504. The 7A product is for someone who’s looking to acquire an existing business or someone looking for working capital. The 504 program is for someone who wants to buy real estate—big purchases, like a million dollars or more, which is a fixed and principal product.
Any small business owner can qualify for these loans, really. And by that, I mean if you have the experience and want to buy an existing business, we can help with that. We also assist someone in putting together a business plan or projections together, showing how they’ll manage their business financially for the next three years. Their business plan might include how they’ll compete with the market or serve the customer base in the local area. These are the two products we offer through SBA, and they’re a great option for entrepreneurs. Many banks don’t consider startup businesses, but SBA programs can do that.
What advice would you give to small business owners who are considering an SBA loan but are unsure where to start?
Thank you, Justin, for that great question. I get that question a lot. First and foremost, the first thing they need to do is figure out how much they really want to borrow and for how long. Sometimes we have individuals who borrow above their means, and that can be an issue in the long run. If they open a business and aren’t making enough money, it could be difficult to cover expenses, especially monthly expenses.
I’ll also say that understanding your competition is very important. Know your market area, know your competitors, what they offer, and what will really separate you from your competitors. For example, you don’t want to open an authentic restaurant in an area where there are eight others within a 10-mile radius. That’s just one small example, but you really want to understand your competition.
Rob, you’ve been actively involved in the community with events at Alvernia University, the Hispanic Chamber of Commerce, and the Dominican Festival in Downtown Allentown. Tell us why it’s important for you to participate in these community events and spread the knowledge about First Commonwealth and the culture here at First Commonwealth?
Yes, first and foremost, Justin, the reason I do it is because I believe in the vision of First Commonwealth. When I read their vision statement and mission statement, it really aligned with my expectations from growing up in the community. One of the things is that being a bilingual commercial lender in this local area, we’re only a handful of commercial lenders who can educate the Hispanic community. And when they come to us, Justin, to be very authentic, it’s not only lending that they ask about, but sometimes they’ll ask about their cable bills, or they might ask, “Am I paying too much?”
It also leads to mentorship. When I went to our college and saw the students getting awards, they came up to me afterward and asked, “How did you get to where you are today?” I think it’s great to be able to educate them and show them that they can be here, too. It’s about continuing to educate yourself, take advantage of open doors, and eventually, they could be standing at this podium representing a great credit union, which I work for—First Commonwealth.
And once again, participating in community events shows that I believe in what they’re doing, and I think that’s very important. That’s what separates all the banks and credit unions from what they offer in the Financial Centers or back office—it’s about what you can do in the community and how visible you are. I think that says a lot and spreads a positive commercial message.
Rob, we’ve talked a lot about your professional life. What do you like to do outside of work? What are some hobbies or things that inspire you to be who you are professionally?
Oh man, I’m going to cut this one short, even though it could take me a couple days. The reason I state that, Justin, is because the first and foremost thing I do is spend time with my granddaughter. She just turned one a few months back and just started walking about a week ago. I spend a lot of time with her, and that’s a release for me. You’re able to be yourself, be goofy, and she smiles no matter what. I really enjoy my time with her.
What keeps me focused, which is part of why I’ve been in this industry for 30 years, is that I’m a workout fanatic. Many surveys talk about how working out clears your mind, lowers stress levels, and helps with anxiety—and that’s worked for me for the past 30 years. So, I really enjoy the gym.
And as I mentioned earlier, this is why I really support small business owners. I started my own power washing business about four years ago, during the pandemic, and knock on wood, we’re still up and running. I spend a lot of my Saturday’s power washing for my neighbors. So those are the things that I do to keep myself busy.
You’ve played a key role in our Small Business Workshops. Can you tell us a little about that program and how it can really kickstart one of our small business members' lives?
Yes. When I attend networking events, I always take the opportunity to talk about what we do here at First Commonwealth. This is something I truly believe sets us apart from our competitors. While many financial institutions share a similar vision, what differentiates us is our mindset—we're not here just to collect referrals or build deposits. Our goal is to teach people how to be successful business owners.
That’s why we offer a three-day entrepreneur workshop, completely free, held on three consecutive Saturdays. We start by educating attendees on business structures—why they might consider forming an LLC instead of an S Corp or a C Corp. We walk them through entity registration, obtaining an EIN, and developing a solid business plan with financial projections.
We also bring in key professionals from the Lehigh Valley who volunteer their time—CPAs, accountants, and attorneys—to educate members or prospects, because you don’t have to be a member to attend, on the importance of financial documents, legal agreements, and operational planning. It’s all about ensuring they understand how to launch and sustain their business successfully beyond the first week.
The three-day class, as I mentioned is free, and at the end of the program, participants receive a certificate of achievement. But it’s a really great opportunity for anyone looking to start a business and really understand the logistics behind it. That’s our goal.
One final question for you, and it might be hard to sum up in one thing, but what’s the one thing you’d like our viewers to know about the resources and support we offer at First Commonwealth?
Well, the resources that we have include our online banking system. We have a robust entrepreneur class, as I mentioned earlier. You know, we have our vision statement where we're trying to thrive being a not-for-profit organization. We're honing in on the financial needs of our local community.
We’re geographic, unlike some big banks that serve a wider market and sometimes lose their audience. Here we know who our audience is, which is our community. We're big in community involvement. As I mentioned, our online banking is very robust. You know, we have knowledgeable individuals and employees that work at the Financial Centers, and we really try to personalize our banking to your needs, and I think that's very critical.
One thing that I've always mentioned to everyone about First Commonwealth, or anyone who has a vision statement, rather it's TD, Wells Fargo, PNC, challenge that vision statement. So I would say to individuals, challenge us as First Commonwealth. We have internships that we offer.
We have scholarships that we offer. Challenge us to be able to open the doors and give you those opportunities that we state that we're here to offer. That's how I will sum up what we can do here and separate us from our competition at First Commonwealth.