Small Business Bankers - Chicagoland Sportbikes
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post #1 of 9 (permalink) Old 01-02-2008, 05:06 PM Thread Starter
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Small Business Bankers

Is anyone on here a small business banker? If not, do you know one you can recommend for me? Thanks!

KJ
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post #2 of 9 (permalink) Old 01-02-2008, 05:12 PM
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try richard carrillo, at citibank. 1-708-346-7955
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post #3 of 9 (permalink) Old 01-02-2008, 05:14 PM
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More info.... What for?
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post #4 of 9 (permalink) Old 01-02-2008, 05:31 PM
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i used to work for a commercial banking department. can u give me some more details? i have contacts.

-Maciek

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post #5 of 9 (permalink) Old 01-02-2008, 08:18 PM Thread Starter
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Well, I have a small business. I just got my ein, and opened a business account with bofa, but I would really like to look into building my business credit now...so loans, credit card, etc. I want to at least get a small loan for some starting costs that I can't cover right now on my own. It seems that a lot of places want your business to be up and running for at least a year or gross about 3 grand in credit card processing each month. I don't gross that much just yet because my storefront is only online as of right now, but I am looking at a location off of Eola for my bakery, I'm opening a dog bakery.

KJ
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post #6 of 9 (permalink) Old 01-02-2008, 08:28 PM
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Quote:
Originally Posted by Gixx View Post
Well, I have a small business. I just got my ein, and opened a business account with bofa, but I would really like to look into building my business credit now...so loans, credit card, etc. I want to at least get a small loan for some starting costs that I can't cover right now on my own. It seems that a lot of places want your business to be up and running for at least a year or gross about 3 grand in credit card processing each month. I don't gross that much just yet because my storefront is only online as of right now, but I am looking at a location off of Eola for my bakery, I'm opening a dog bakery.
Good idea for that area. Most new Sm Business owners start up on personal credit like a Home Equity. The next thing would be a Sm Business unsecured line of credit,

- Usually based on the owner's personal credit history, for my bank this is 720 plus and the business must have a deposit account.

- Credit Card is a tad easier

Since you're new, the bank could also run you through the SBA. You will need a business plan with projections, ect.

Capitol One was the top SBA lender last year with Credit Cards
Charter & Natcity with other loans.

Business lending across the board is tighter than it has been in years.
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post #7 of 9 (permalink) Old 01-02-2008, 08:38 PM Thread Starter
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Quote:
Originally Posted by CHI1000RR View Post
Good idea for that area. Most new Sm Business owners start up on personal credit like a Home Equity. The next thing would be a Sm Business unsecured line of credit,

- Usually based on the owner's personal credit history, for my bank this is 720 plus and the business must have a deposit account.

- Credit Card is a tad easier

Since you're new, the bank could also run you through the SBA. You will need a business plan with projections, ect.

Capitol One was the top SBA lender last year with Credit Cards
Charter & Natcity with other loans.

Business lending across the board is tighter than it has been in years.
Yeah, I've discovered that, and it's frustrating!! I was thinking today about just doing a home equity loan for now. Then getting a credit card to start building business credit. I have also read a lot about SBA too, and that may be something I might look into more. My credit score is in the high 600's...maybe 700 now, but I don't think it has made it to 720 just yet (I was a dumb 18-20 yr old), a lot of that stuff though will be dropping off as a lot of it happened 7 yrs ago, and since then my credit has been almost flawless.

KJ
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post #8 of 9 (permalink) Old 01-02-2008, 09:03 PM
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Have you considered reaching out to investors? That's another avenue to explore as well. You trade some equity in exchange for upfront cash.

But, feel free to give my guy a call. Good luck.
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post #9 of 9 (permalink) Old 01-02-2008, 11:44 PM
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Quote:
Originally Posted by Gixx View Post
Well, I have a small business. I just got my ein, and opened a business account with bofa, but I would really like to look into building my business credit now...so loans, credit card, etc. I want to at least get a small loan for some starting costs that I can't cover right now on my own. It seems that a lot of places want your business to be up and running for at least a year or gross about 3 grand in credit card processing each month. I don't gross that much just yet because my storefront is only online as of right now, but I am looking at a location off of Eola for my bakery, I'm opening a dog bakery.
I sell the credit card processing at Harris Bank and work with large and small business. If you need help finding a business banker or on your credit card processing PM me. I'll let you know if you're getting a good deal.

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