Hi All,
I am in the process of launching a new venture so I will be spending a lot of time here. For those of you who have recently launched new ventures - did you find any value in building a solid relationship with a single bank?
My personal accounts are currently with Bank of America. There have been times when I have been able to utilize my overall personal banking relationship as leverage in my favor. Conversely, I am wondering if business banking works the same way..
For example, I am exploring checking account, merchant account and credit products. If I allow pricing alone to drive my decision, each of these products will potentially be spread across various companies i.e. checking account at a local credit union, credit card processing via Square, etc. From a business perspective, everyone wants to keep their costs low. However, on the flipside--how much are you willing to sacrifice in an effort to improve your business credit opportunities long term?
Thoughts?
