Understanding the Business Next Door

With Ross' background in law, he became familiar with mediation and decided to open his own practice. Ross works out of his house, focusing on elderly care and work place mediation. Within five years, Ross believes he will move his business out of his house and continue to add contracts. He will also be looking to his bank to provide him with the capability to accept card payments and to deposit checks via online banking.

Itai teamed up with a programmer to develop a personalized remote control app for smart phones and tablets. His company has grown rapidly and is now doing business in over 30 countries. He believes that many banks do not cater to small businesses like his because they lack assets and business history. Itai understands the reasoning behind this, but believes that this is a traditional model; where as the small business of the future is cloud-based and doesn't need assets to operate.

Arlen began his piano tuning business in 1974 as a hobby, providing a source of supplemental income. Today, this hobby has turned into a full-time piano tuning, repairing and moving company. With the addition of his wife as a piano instructor, Arlen is looking to expand. Arlen would like banks to provide his business with new technology to accept payments. In particular, he is interested in a mobile application for accepting payments.

Elizabeth has been a business owner for 13 years, setting up business relationships for non-profit organizations and in the military field. She believes that she is now on the verge of breaking through and becoming a more profitable business by moving to a more international market. She feels that financial institutions often view her business as too small, inhibiting her relationship with her bank.

Jason owns an auctioneering business, which serves as secondary employment. He has been formally trained in his craft and auctions anything from estates to antiques. Although Jason's business was hit hard by the recession, he is resilient and is looking to expand within five years. To assist with his business' expansion, Jason will be looking to have conversations with a banker and possibly take out a loan to fund advertising.

Kim left her position as a veterinary assistant when she had children. Shortly after she started her pet grooming business as a hobby and for additional income. Because she lives about 40 minutes from her nearest branch, banking convenience is key. She would benefit from an online or mobile banking platform with remote deposit capture capabilities so she doesn't have to drive to her branch.

Craig started his handyman business in 2008. He is anticipating his company to continue to grow, but is reluctant to hire employees because of the expenses involved (taxes, insurance, etc.). As his business expands, Craig intends to enter the credit market. In accordance with his daily job routine, Craig is constantly moving and is reliant on online banking. He believes that he would benefit from a more expansive mobile banking platform.

Brent is a former banker and real estate agent who decided to apply his skills to his own commercial finance business. Within five years, Brent will be looking to grow by expanding to international markets and trading revenue streams. Not only does Brent believe it is important that he has the right financial institution, but the right banker as well; one who has the ability to find additional revenue streams and identify assets and their potential.