#99 Business credit, Financing, & Power of Regional Banking ft. Eli Stanley

The Profitable Cleaner

Listen in as we break down the myths of regional banking with Eli Stanley, the Director of Business Banking at Vectra Bank Colorado and Roundtable Leader at our Cleaning Prophets Event. Eli gives us her take on how regional banks are not just surviving but thriving in the current volatile environment and why they should be trusted. She explains how regional banks, while adopting technology, still value personal relationships with their customers, making them approachable and reliable.

Join us as we discuss business credit and financing options and get to grips with bankability and lendability. Eli reveals the ins and outs of establishing business credit, especially for businesses with no credit history, and how to determine the right line of credit for a business. She also offers advice on preparing to apply for funding and understanding the difference between bankability and lendability. You’ll get a fresh perspective on separating personal and business funds, calculating net profit, debt service coverage, and debt-to-income ratio.

In this episode, Ellie doesn't just stop at banking. She shares her insights on succession planning for business owners and the importance of life insurance in covering business debts and expenses in the event of the owner's death. We also get into the world of cryptocurrency, and Elie explains how businesses can benefit from lending opportunities in times of hardship. The episode wraps up with an exploration of the potential of investing in IT and security stocks. Join us for this enlightening discussion!

In this Profitable Cleaner Podcast, you will learn:

• The current state of Regional Baking and how these institutions are thriving and leveraging technology while maintaining personal customer relationships.
• The different options of credit and funding available to businesses and the difference between bankability and lendability.
• The importance of business succession planning and the critical role of life insurance.
• How to navigate and leverage banking and financing systems for the growth and sustainability of your cleaning business

We highly recommend you connect with Eli Stanley and check out Vectra Bank:

• Connect with Eli Stanley on LinkedIn Here
• Check out Vectra Bank Colorado Website Here

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• Register here for The Cleaning Prophets 2.0 - The Statement

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