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.
So you’ve done your taxes. And if you haven’t, don’t worry, this year you have until Tuesday, April 18. But if you’re expecting a refund, we have some tips on smart ways to spend it. Continue reading
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
Learn more about our Cobnks Mobile app. Download, discover, and enjoy our accessible, helpful tools that it has to offer for all of your banking needs! Visit your app store today.
For more details on what our mobile app can do, please check out our infographic.
Cobnks Mobile (Apple) | Cobnks Mobile (Android)
Video created by Grenadier.
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.
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.
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
Manage your money quickly, easily and securely any time of the day or night with Community Banks of Colorado Online Banking! Continue reading
Download, discover, and enjoy our accessible, helpful tools that our Community Banks of Colorado Mobile app has to offer for all of your banking needs! Continue reading
Landing that first job means having a regular influx of cash, but steady work alone doesn’t guarantee financial health. Here’s how to build the foundation for lifetime financial security. Continue reading
Should I get a business credit card for my business?
From startups to established companies, business credit cards can provide many benefits to any company, from building business credit to normalizing your company’s cash flow and earning rewards. Continue reading
A personal budget is an extremely useful tool if you are struggling to get a handle on your finances. Creating a budget can help anyone decide how to spend their money, plan for their future, pay off existing debts, prepare for any unexpected events, and save a portion of their money every month. Continue reading