Small Biz Tip: Managing Finances: Choosing a Bank

Tips from September 22, 2009

The Small Business tips today discuss choosing a bank that is best for your business.

  1. Be prepared. Provide banks with necessary info, such as financial history, biz plan, goals and what you need.
  2. Do your homework. Know what kind of relationship you want with a bank. Stick to what you want and don't be sold.
  3. Ask key questions: find out who is your personal banker, who makes the decision, regular meetings and availability.
  4. Create the relationship. Talk to multiple people at the bank. Find out who else uses it. Become knowledgeable.

Daily Overview: Choosing the right bank is important. Create relationships & establish trust with the institution handling your money.