Perhaps a business line of credit is the optimal choice
A new business faces its biggest challenge early on – getting started. Other times, businesses face the need to grow, expand, or operate more efficiently after they’ve already been established. Whatever stage the business is in, it needs one thing to survive: capital.
In the next 20 years, we will have perhaps the largest transfer of wealth in history. Much of the transfer of wealth will be in the form of transferring a business. According to the US Census Bureau, as of 2012 there were approximately 44,000 firms located in Dane County. Most of these firms are owned and operated by local individuals who at one point plan to monetize their legacy by forming a business succession plan. Read more on Business Succession Planning from this great article from Broadridge Investor Communication Solutions, Inc.
While I am not suggesting that your bank become a business partner in the traditional sense, I do advocate you asking your bank to be more than just an investor in your business.
When a loved one passes away there are many financial matters that must be addressed. From notifying creditors and beneficiaries, inventorying (and sometimes selling) assets, distributing personal property, claiming life insurance proceeds, and following through with final distributions and completion of necessary tax returns… there are a lot of moving parts!
As professional fiduciaries, the Wealth Management Team at State Bank is able to serve as both Personal Representative and Successor Trustee. Our team of experts efficiently carries out the post-death administration process and works together with families to involve them as much or as little as they want. The passing of a loved one is a difficult time. We’re here to make it a little easier. Should you have questions or want to know more, please feel welcome to contact me directly at 608-826-3503 or firstname.lastname@example.org.
Bruce Whiting, Security Officer
June 15, 2017 is World Elder Abuse Awareness Day. And as elder abuse is a growing epidemic, I wanted to share the following article from the website www.preventelderabuse.org. This article explains the reasons abuse may take place, who might conduct the abuse and who is at risk.
The Small Business Administration (SBA) is a federally funded program that hasseveral financial assistance programs that help small businesses receive debt financing, surety bonds, and equity financing. For simplicity, let’s focus on debt financing.
Visa has detected an increase in fraud from merchants submitting unauthorized force-posted transactions into the payments system.
The Use of Force-Posted Transactions
Many Point of Sale (POS) devices and payment gateways support functionality for a “Force Sale”—also known as a force capture, or offline transaction— which is used to submit a force-post transaction. A force-post transaction allows the merchant to bypass the authorization process by manually entering a previously obtained authorization code.
Successful businesses often face the reality of how to handle business expansion. This will undoubtedly involve opportunities and challenges. To be successful at obtaining investor or bank financing you must be:
- and able to convince them that lending money to you and your business makes good business sense to you and to them.
Saving for college can seem like an impossible dream, but with some pre-planning and dedication, it is very possible.
With the different types of education savings accounts available, many things can factor in to which one will work best for you. After comparing your options, it is likely you will find that one that fits perfectly.