Financial Empowerment for Small Businesses

By: techdev | 8 Apr 2024

Did you know that over 80% of small businesses fail due to cash flow problems? Does this surprise you? Whether a customer pays late or you have an unexpected expense, having the right banking solutions helps keep your doors open. Texas Republic Bank understands that running a small business is no easy task. From finding growth strategies to prioritizing cash flow, it’s important that you have the right financial resources on your side. In this article, we’re going to cover the different ways that Texas Republic Bank supports the financial aspect of running a small business. If you have any questions about what these solutions look like in your business, contact a team member.


Transparent Checking Accounts

One of the most basic components of running a small business is having a business checking account. However, all business checking accounts are not created equally. When it comes to choosing a business bank account, transparency needs to be a priority.

All transactions should update in your ledger in real-time to prevent overdrafting. In addition, there should be no hidden fees and you should have 24/7 access to your account information. With Texas Republic Bank’s business checking accounts and Mastercard Debit Cards, you have all of these tools and more at your disposal, helping you stay one step ahead of the game.


Business Loans

For those months when you can’t seem to make ends meet, Texas Republic Bank has a variety of loan options designed to fit the unique needs of your business. These options include term loans, lines of credit, SBA loans, equipment financing, and medical practice lending.

Additionally, we have loans designed to purchase real estate, including commercial real estate loans and IRA lending. Having numerous loan options at your disposal is important to stay agile and flexible in your finances. The last thing you want is to default on payroll obligations or miss out on key growth opportunities because of low cash on hand.


Certificates of Deposit and Money Market Accounts

As a general rule of thumb, small businesses should have cash to support six months of operating expenses. Leaving this cash in your general checking account results in a low return on investment, which is why Texas Republic Bank has certificates of deposit and money market accounts you can open.

CDs give your business access to income generation opportunities rather than leaving cash to sit dormant in your checking account. However, if you want more flexibility with access to funds, a money market account is the best of both worlds. You can earn higher interest while still having full access to your funds.


The Bottom Line

All of your financial decisions route back to one common denominator: the bank you partner with. Don’t let new opportunities pass you by this year. Make 2024 the year of financial empowerment for your small business with Texas Republic Bank on your side. Reach out to schedule your free consultation today.

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