In
these lean financial times a lot of people talk about cash flow. It could be your personal cash flow or your
business cash flow. When we work with
small business owners we sometimes see a need for help in the area of cash
flow. One issue we run into is the bank
that the small business owner choses.
We
have recently seen one large, national bank hold on to checks for the 14 days
or longer. They have held these checks
every time on some of our small business owners- causing them to rack up
hundreds and in one case thousands of dollars in banking fees. Be sure to talk with the bank and ask what
their policy is and find out if they get to know the people who bank with them.
There
are a lot of banks who cater to small business owners and will get to know
their clients and work with them to make sure that a check clears if they need
that money. Find out who these banks are
and don’t be afraid to take your money elsewhere. Get to know a few of the people who work
there. It can make a big difference.
My
husband and I have been banking with the same bank since we moved to Richmond
and the employees there know us by name.
So when we need something handled, we always have someone there we know
we can call. It’s your money so don’t
be held hostage by the bank.
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