ACCESS to CAPITAL . . .The Life Blood Of Small Business!

When I came out of college, I had no clue what I was going to do, so I answered a blind ad and five years later I was a “Dirt Sucker Salesman” with Kirby Vacuums, Direct Sales, Door To Door. When Direct Sales became a Dinosaur in America I ventured into many other areas of business during my lifetime but I got my start, literally from the Shoe Leather ground up. During that 5 years I worked my way up the ladder and became an Area Distributor with 2 offices, running crews and vans all over Southern CA. In those days, when it came to laying the cash down to satisfy a Kirby Franchise and substantial capital to OPEN my first business, had it not been for the foresight of my late father and the TRUST Fund he left behind for me, I would have never even got off the ground. In business there is a saying, “Cash Is King” or more appropriately, “He who owns the GOLD, make the rules” Both of these ring true more loudly today in an environment that is revenue hungry both at governmental and small business market sectors. The BIG Banks, who now rule the roost with Capital Finance make it almost impossible to gain even an equity credit line on existing homes to aid in having a “back stop” for contingencies that will require immediate capital infusion and we all know and have experienced those moments and times when you have to meet a payroll or an opportunity comes up that is just too good to pass by and you need CASH to accomplish your ends. Today, I will be interviewing the principals of a newly emerging “Community Bank”. The vision that this financial institution has set before themselves is to SERVE their Community beginning in Scottsdale, Arizona. What a refreshing breath of fresh air in comparison to the “Microscope” qualification processes that the Big Banks have you undergo to get access to capital. This bank is banking on a work and a word rarely used today called RELATIONSHIP. Again, something you hear on this show but not very often in the Ivory Towers of Finance. Do you need Capital? Stay tuned, because we are going to speak to the Community Oriented and Minded principals who can write the check. EIDL and PPP “Crutch” Loans are not going to pull Small Businesses out of the financial debacle caused by COVID19 and shortsighted politicians who SHUT DOWN Small Business in America. We will learn today about a group of entrepreneurs who just secured FDIC approval to bring forth a solution to one of the most menacing issues of small business . . . ACCESS to Capital!