In a previous post I noted some benefits of a relationship with a community bank. Here are more reasons relationship banking benefits solopreneurs. Better Rates Borrowers can benefit from having their deposits with the lending institution. Deposit balances may help self-fund a borrower’s loan with the bank and allow the bank to offer “bundled” pricing… Continue Reading
Big Bank or Small…Does It Make a Difference? All banks, large and small, offer value to their customers. I have worked in both large and small banks and enjoyed great relationships with customers in both settings. I have heard complaints on both but have also heard resounding praise for bankers of both large and small… Continue Reading
Exploring Guaranteed Loans as Startup Business Capital In a recent blog post on financing businesses, I mentioned government guaranteed business loans as a potential source of startup capital. Guaranteed business loans are offered by the Small Business Administration (SBA) and United States Department of Agriculture (USDA). By guaranteeing all or part of a loan, the… Continue Reading
What Do Banks Need for Loan Requests? When you are interested in getting a loan, there is a lot of information the bank will request to process your loan. Whether you are applying for a business loan or one for personal use, the necessary information can generally be broken down into four categories: 1. Identification… Continue Reading
In my career as a banker I’ve had hundreds of conversations with people that want to become small business owners. These conversations often occur when someone is interested in borrowing money to start a new business. Funding your business can be difficult, and loans are one of the first options most people consider. It is… Continue Reading
