You Want to Start a Business – How Should You Finance It?

Getting a small business off the ground is a huge achievement, but establishing financing on a solid footing is critical to whether an enterprise ultimately succeeds or fails.

As a banking officer dealing with financing requests every day, the most common question I hear from founders of startups is, “Should I finance with equity or debt?” I’m here to tell you, there are no pat answers. And even worse, it can be a life and death decision: More than 500,000 businesses are established in America annually but half of them fail within five years. The No. 1 reason for failure is a bad strategy backed by surplus optimism, but the next biggest cause of failure is a lack of funding.

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What to Look for When Switching Banks

At some point in your life you may find yourself in a situation when it’s time to change where you bank. Some of those reasons could be positive such as relocating for a better career opportunity. Other times it could be a negative factor such as having a misunderstanding with your current bank. How do you know when it’s time to stay or go? Continue reading

Save Green by Banking Green

Now that you’ve got your finances organized, keep the momentum going by being financial green. Here are a few ways we can help you save time, money and a few trees when banking.

Electronic Statements

First thing’s first: sign up for online statements. Online statements are secure and convenient because you don’t have to wait to receive them in the mail and you can view them at any time.

Direct Deposit

Not only is it greener than pay stubs, you can designate where you want your money deposited. Deposit it directly into your checking account or split it so some goes into savings.

Pay People Online

Skip check writing, running to the ATM to get cash or looking for an envelope to pay someone. Digital wallets are becoming more and more popular. With our online banking system, you can pay people directly from your account.

Use that Debit Card

In addition to not having to worry about writing a check or carrying cash to make a purchase, when you sign for purchases with your debit card or make purchases online, you may have additional fraud protection from the your card’s issuer.

– Adrienne L., Marketing Specialist