Banking services change at the fast pace of technological advances. Therefore, entrepreneurs need to consider building relationships with their financial institutions to ensure that they can keep up with these changes and understand how to choose the right products and services for their business. A good relationship with your banker can help them better understand your business operations and needs. This can help your banker better advise you about obtaining and building credit, maximizing the bank’s benefits and resources, and leveraging the banker’s extensive knowledge and contacts.

Information will include:

*The benefts of building effective long-term relationships with bankers (branch managers and lenders) and business advisors

*Factors to consider when selecting a financial institution

*Features, advantages, and risks associated with the financial services and products under consideration

*Types of small business financing options and lenders

*Factors to consider when evaluating financing options

*Ways to improve their chances of getting a loan, including building a strong personal and business credit history, keeping accurate business records, and understanding the Five C’s of Credit

*Ways to recognize and avoid small business fraud, scams, and cybersecurity risks

The SBDC cannot provide legal, financial, or taxation advice for your business specifically and this webinar will be focused on general information that is applicable to most small businesses. For specific taxation guidance, please work with individually with an accountant who will be able to provide instruction and advice for your business.

This webinar will be presented on Zoom. Please register to receive the link to join.

Speaker(s): Callie Koch, West Central SBDC Program Manager

Co-Sponsor(s): Region 10, City of Montrose