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Fraud-Proofing Your Company

What to look for—and how to prevent it. From personal identity theft to corporate scams, fraud is one of the biggest money-making industries in the world, raking in an estimated $3.5 trillion annually. And for businesses that think it can’t happen to them, the numbers tell a different story. In 2012, more than 60 percent of businesses experienced attempted or actual payments fraud with an average loss to the company…

The Facts about SBA Disaster Loans

If you’re an entrepreneur, you’re probably well aware of the small business loans backed by the U.S. Small Business Administration. But the SBA also plays an important role after officially declared disasters, providing an array of direct loans—even to people who don’t actually own businesses. Business Physical Disaster Loans // These loans are worth up to $2 million and are made available to businesses of any size and most nonprofits…

Reviewing Your Vows (With Your Bank)

An important but overlooked part of the lending relationship comes well after the original loan closing. Renewing your loan for the first time is an important step in maintaining a close relationship with your lender. Line of credit renewals always begin with being well prepared. Your readiness will make it easy for the loan officer to process the renewal for another year. All lenders continuously monitor their loan portfolio to…

Two Tools for Better Banking

Remote deposit, ACH services can help you save time and money.For small business owners, managing the flow of money is a job that never really stops. They constantly need to keep an eye on incoming cash while paying a never-ending series of bills. Smart entrepreneurs are always looking for a way to make the process more efficient. Many banks offer remote deposit and Automated Clearing House (ACH) services, two easy…

Managing Your Relationship Manager

If only choosing a bank were like online dating. You could just turn on your computer and sort through each institution’s profile, scanning for financial stability, convenience, lending products and all the other qualities you want in a banking partner. Of course, there’s a big difference between dating and actually building a relationship, and that holds true for banking relationships. It takes time, effort and communication—lots of communication—to find the…
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