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
The Good, Not So Good, The Bad and The Ugly Most people when starting a business at some point want or need to grow and expand the business. The easiest way might be to join up with another business person as a partner. The other way to grow and build you business is to hire… 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
Now that you made it to 1st base, (see my prior post) you will need to open a bank account and make decisions about your solopreneur credit card. The most important factor should be convenience. Yes, you will probably get actual checks mailed to you and will have to deposit them some way. Many banks… Continue Reading
Our friends over at FreshBooks put together a fun infographic chronicling the solopreneur journey. In truth, this Freelancer’s Guide will help you navigate whether you freelance, side gig or go solo full time! Before You Embark This “Freelancer’s Guide to the Galaxy” by FreshBooks shares many of the ups and downs that come with the… Continue Reading
As business owners and especially as solopreneurs you are in business for yourself and more often than not that means by yourself too. Not only is the road to entrepreneurship a lonely one sometimes it is littered with landmines that can topple even the best businesses! That’s why every business needs to recruit the right… 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
Protect Your Solo Business So you are a business owner and instead of working in an office or store front space, you work from home. There are lots of benefits to running a home-based business, as I’m sure you know. Did you also know that being a solopreneur has unique risks? We don’t like to… 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
