This is an interesting question, the fact is that the current regulatory
environment limits banks ability to be creative from a lending perspective.
In the Bay Area several banks have a culture or initiative geared toward
start ups, Bridge Bank and Wells Fargo are examples, Silicon Valley Bank is
a known player in the space. Your banker should be yery eager to have your
business based on the future potential, if not look for someone who is.
If you need financing, I'd strongly suggest looking into smaller banks and credit unions that specialize in business banking. Big banks like Wells Fargo do not understand the needs of small business, they are structured for revenues over $2M.
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Hi Rachel (off list)
Over the last decade, we have used the following. All every simple checking
and savings accounts:
Marine Midland (which became HSBC)
Disaster. Awful customer experience. Awful user interface. One officer
promised X; the next officer reneged. Glad to be out of there.
Bank of America
Inexperienced officers. Constant turnover. Had four different officers
assigned to us, sequentially, in a 6-week period.
It works only because we have an officer who sticks up for us. Back office
seems to be inept. But I really don't want to keep doing business with a
company that had to settle for something like $16 billion in fines.
Would rather find a community bank.