Five Tips for Finding Small Business Friendly Bank... - Community Home | Small business news; tips; networking

Posted by businessdotgov under Raising Capital
From http://community2.business.gov 5236 days ago
Made Hot by: omgzam on July 25, 2010 1:03 am

If you are in the market for business financing you may have noticed that the SBA is tentatively reporting a healthy increase in small business lending.

However, finding the right bank for your small business financing needs can still be a time-consuming challenge.

So just who is lending? And what is your best strategy for finding and approaching a bank? Here are five tips to help you find small business friendly banks.

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Comments

Written by ShawnHessinger
5233 days ago

I definitely think focusing only on lending is a bit short sited. There are many ways a good bank can help and, while I'm sure I'll catch flack for saying this, not all small community banks offer better service. While for loans many insist they are the best option, something I must admit I have limited experience with, when it comes to other services, it's best to check out your options and go with the bank you feel best suits your business's needs.

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Written by smallbiztrends
5234 days ago

This is a good article at Business.gov. I would add that small businesses should look for a full service bank -- one that not only fulfills lending needs, but also can provide a full range of banking services: checking, savings, credit cards, online billpay, wire transfers, and the like. You want to develop a relationship with a lender, and have that relationship grow as your business grows.

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