CAFÉ FINANCE
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years of rough economic conditions—the few big guys that are making profits are finding more and more unprofitable banks to gobble up. More than 460 banks with assets less than $100 mil- lion have folded since 2008, while only 27 in the $100 million to $300 million range have shuttered.
The current whirlwind around banking is a great excuse to evaluate your situation and look into what options are available to you.
This means that small business owners have fewer choices
about where to get a business loan, and deciding to go small is getting harder. A little institution trying to hang on will likely demand solid financials and a fantastic credit rating from a busi- ness wanting to get approved for lending. In the past, community bankers would be open to approving a loan based on a business owner's story and reputation around town. In the future, it'll be much more about the numbers.
DECISION TIME When it comes to banking, what's most important is getting
the level of service you expect and prefer. It is best to interview several large and small banks as well as credit unions prior to making your ultimate banking decision. The current whirlwind around banking is a great excuse to evaluate your situation and look into what options are available to you. If you decide to make a switch, do so because it truly makes sense to you and your operation, not because an Occupier told you to.
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