“Manny” called late one afternoon and needed a $1.5 million commercial real estate loan. Before discussing his bank relationship over the phone or initiating an application, I had to “authenticate” him. Authentication involves a series of questions about his bank relationship that only the proper owner could answer correctly. He answered them correctly and without Read More

A husband and wife team owned a plant nursery and garden store. The store was small, and located in a relatively upscale, established neighborhood. We saw each other from time to time when they came in to make deposits with the tellers. One day, they sat down with me and told me that they had Read More

When starting a business, a location is a very important factor in your marketing. Find the right place for your business according to considerations normal for your industry. For example, do you want to be near your competitors? Consider an arts district for example. The area itself is a destination, so art galleries are located close to each Read More

What Exactly is a PLLC? A Professional LLC, or PLLC is designed for licensed professions such as accountants, engineers, attorneys, architects, or doctors. LLCs allow for certain tax benefits and limited liability, but if a license is required, an LLC is not allowed. PLLCs allow these licensed but regulated professionals an opportunity to gain the Read More

A woman who was working as a highly paid scientist decided to start a clothing design business as a side venture. She used an incorporation service, and said that if we opened her checking, she wanted credit. She also said that a competing multi-state bank took good care of her. I called her back once Read More

Should you incorporate as a contractor? If you are a contractor, the first thing you need to do is decide if this is best for you. In most cases, it is. Why? Setting up a corporation or LLC offers many advantages and protections for contractors. The first reason is liability protection. A corporation is a Read More

“Justin” is a 28 year old entrepreneur who sells nutritional supplements online. After a four-year tour as a U.S. Army infantry officer, he was able to amass approximately $40,000 in personal savings, thanks largely to exclusions on income tax of combat zone pay. He contacted me for assistance with setting up his business banking. He Read More

Emergency planning…really? You have a business to run and grow, so who has time for planning? Simply put, a small amount of planning in advance will save you in the event of disaster, and can get you back up and running in a very short time. In fact, that can be a powerful competitive advantage, Read More

Crowdfunding can be a misunderstood term and as a funding option, has not been nearly as widespread or readily available as believed. The concept seemed simple enough; large numbers of people could just fund your startup if they chose to. However, that notion of crowdfunding was not available because the U.S. Securities and Exchange Commission Read More