Your Small Business Bank

If you are just starting a new business or need to make some changes in who you bank with, consider the smaller local banks. In today's business environment the large banks have been taking unfair advantage of us with a laundry list of fees and some reduced services. It's almost impossible to get a small business loan without five times collateral and personal guarantees from all your relatives. The big national banks are not good for small business and you should avoid them when possible.

A smaller local bank gets to know you and about your business because you are helping to build the economy of the local area and providing jobs. You can actually meet the executives and even the president of the local bank. You may have ignored them in the past but with a new or growing company they can be on your side, not against you.  They don't give money away but will listen to your needs and if you are not prepared to apply for a loan they will help get the documents and information you need to move forward.

Small community banks (5 or less locations) have a real interest in seeing you succeed in the area they service. They want your banking business and your friendship as a business owner. They may not blast the airways with commercials but you will be welcomed with sincere interest and a smile when you first walk in the door. They can also connect you with other local businesses, organizations and networking groups to help you grow and prosper. YES, there are banks that care and they are right in your local area, visit them and see what they can offer you.

Barry is a buciness coach/advisor that helps new and existing businesses grow and solve problems. www.idealetter.com