You wouldn't dive into a pool without knowing how to swim, so why start a business without knowing where to start?

Greg Marantz is joined by Erik Huber, VP and Commercial Loan Officer at BOS, to discuss why your bank plays an important role in your starting your business. From a business plan, to funding, to the crucial relationships you will need, Greg and Erik will walk you through the ins and outs.

Episode Time Stamps:

- 3:08 First Steps for Starting a Business

○ 3:28 Business Plan

- 4:40 Build Your Business Team

- 6:18 Relationship With Your Bank

○ 7:38 Changing Needs

- 8:35 Funding a Business

○ 9:00 Types of Business Loans

- 12:00 Business Loan Application

○ 13:40 Personal Financial Statement

○ 14:10 Underwriting and Approval Process

- 16:00 Recap and Advice

BankCents is the podcast that makes sense of all things banking. Something you don't understand or want to learn more? Message us on social media, comment below, or email us at bankcents@bankwithbos.com with your questions about banking.

BankCents is brought to you by the Bank of Springfield (BOS), a community bank located in Illinois and Missouri. BOS is a full-service institution that offers a wide range of financial offerings. Learn more at ⁠⁠bankwithbos.com⁠⁠.

Watch on YouTube: https://youtu.be/FhLsr58wwyk

This podcast is for educational purposes.

Music by FASSounds from Pixabay

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