TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
Intro content. Orci varius natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Curabitur iaculis sapien sagittis, accumsan magna ut, blandit massa. Quisque vehicula leo lorem, a tincidunt eros tempor nec. In quis lacus vitae risus egestas tincidunt. Phasellus nulla risus, sodales in purus non, euismod ultricies elit. Vestibulum mattis dolor non sem euismod interdum.
-
Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
-
The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
-
SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
-
SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
-
It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
-
It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
-
It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
-
Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
-
Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
-
How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
-
Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
-
A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
-
Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
-
Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
-
Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
-
The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
-
Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
-
Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
-
“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
-
Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
.jpg?sfvrsn=f1093d2a_0 "#3 -_ 1 (1)")
May 20, 2024
Source: Yahoo Finance
Small business owners are turning to banking partners for advice to help their business run better as inflation concerns continue
NORTHAMPTON, MA / ACCESSWIRE / May 20, 2024 / Many business owners may not realize that their bank can be a strategic partner, offering more than just a checking or savings account for their businesses. Small businesses' banking partners are often deeply invested in their success and impact on their communities, offering services beyond financial product expertise by also providing valuable advice during uncertain times. By building a strong relationship with their bank, small business owners can gain access to customized strategies for managing cash flow, securing credit, and achieving your business goals.
KeyBank's 2024 Small Business Survey found the top three pieces of advice owners have received are: cut costs by reducing discretionary spending (34%), establish an emergency fund (22%) and diversify revenue streams by introducing new products or services (20%). This comes at a pivotal moment, as small business owners navigate cash flow and business operations amid a challenging economic backdrop.
The good news: More than half (52%) of small business owners are confident that their banks understand their cash flow concerns! Still, almost 20% are unsure if their banks do so - pointing to an opportunity for banks and business owners to expand their relationships.
"As inflation concerns continue and interest rates rise, small business owners are seeking guidance to ensure their long-term success," said Mike Walters, Head of Business Banking at KeyBank. "KeyBank is proud to offer resources and tools to help equip them to weather financial uncertainty and help their business run better."
KeyBank, a top SBA lender1, has provided more than $4.5 billion in small business loans and lines of credit. Most recently, KeyBank received their 11th consecutive "Outstanding" rating from the Office of the Comptroller of the Currency (OCC) on its most recent Community Reinvestment Act (CRA) exam.
Key's commitment to inclusive communities is vast, encompassing a broad range of programs, initiatives, and collaborations. KeyBank is dedicated to supporting low-to-moderate income (LMI) communities as well as providing community investments to bring access to capital to local businesses. In 2023, we provided $267.7 million in small business lending to LMI communities and, in 2020 and 2021, processed 69,000 loans through the Paycheck Protection Program (PPP), providing more than $11.2 billion in critical funding to small and mid-size businesses.
Learn more about KeyBank's opportunities and programs for your small business by visiting key.com/small-business. KeyBank offers a range of tools, including the KeyBank Small Business Check-In, KeyBank Small Business Financial Review and the Business Cash Flow Calculator.
Methodology
This survey was conducted online by Survey Monkey. 1,983 respondents, ages 18-99, located in the United States, who own or operate a small-to-medium size business with an annual gross revenue of less than $10 million, completed the survey in March 2024. Learn more about KeyBank's opportunities and programs for your small business by visiting key.com/small-business. KeyBank offers a range of tools, including the KeyBank Small Business Check-In, KeyBank Small Business Financial Review and the Business Cash Flow Calculator.
CFMA #240508-2592782
This material is presented for informational purposes only and should not be construed as individual tax or financial advice. KeyBank does not provide legal advice. All credit products and SBA Loans are subject to approval, terms, conditions, and availability and subject to change. KeyBank Member FDIC, SBA Express Lines of Credit ARE NOT FDIC INSURED OR GUARANTEED. Key.com is a federally registered service mark of KeyCorp. ©2024 KeyCorp
1Source: Statistics released by the U.S. Small Business Administration (SBA) October 2023 for total approved loans through the SBA's 7(a) lending program during the federal fiscal year ending 10/2023.
Contact Info:
Spokesperson: KeyBank
Website: https://www.3blmedia.com/profiles/keybank
Email: info@3blmedia.com
