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5 Questions to Ask When Considering Private Banking

As a northeast Ohio business owner waited to board his flight to California, he was struck by a troubling realization: in the rush to prepare for his trip, he had forgotten to get an important document notarized. With the plane scheduled to leave in two hours, he placed a call to the one person who could solve........
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3 essential questions when considering a loan for your small business

For many small businesses seeking financing, there can be a tendency to charge into the process without taking some valuable initial steps. While the “we-need-it-right-now” approach may feel like the right course of action, hastiness can actually put your goals further out of reach. With so much at stake.........
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Charitable giving - How the new tax law could impact donors’ philanthropic strategies

The 2017 Tax Act, passed into law in December, is one of the most complicated new laws in tax history. In addition to changes that affect individuals and businesses, there are also noteworthy changes that will impact charitable giving.........
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4 tips for a successful non-owner-occupied commercial real estate loan

If you’re seeking financing for commercial real estate, it’s important to understand that these are not your typical loans. They require the cooperation of multiple third parties, a high degree of documentation, and, above all, a seasoned banker who knows how to listen to a client’s needs, accurately assess the project.......
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Cash flow - How to make the best use of your balance sheet

Some companies are focused on driving sales. But a narrow focus on sales often means overlooking collection of accounts receivable or improperly managing inventory turns, which can lead to cash flow problems that can cause serious difficulties. “There comes a time when the financial sophistication........
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Managing cash flow: Four critical tips for success

When sales started to soar for a fledgling Northeast Ohio business, company principals began discussing growth strategies. Talk of upgrading equipment, expanding the workforce and boosting inventory dominated the conversation. However, the subject of how to manage changes in cash flow........
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Six Essential Small Business Loan Tips.

For many small business owners in northeast Ohio, finding the right loan with the right lender can mean the difference between taking a leap forward or falling behind the competition. In the nuanced arena of small business lending, it takes more than a firm handshake to secure financing that will lead to growth and prosperity......
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Getting the right financing. The loan you think you need may not be what you need.

When business owners approach a bank for a loan, most are not exactly sure what they’re asking for. “They might say they need a line of credit to grow the business, or a loan to buy equipment and raw materials, but those may or may not be the best options for their needs,”.......
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5 ways to avoid critical mistakes when setting up a business banking account.

Whether you are establishing a new business, or yours has outgrown your current business banking accounts, there are tips to keep in mind to avoid future problems. For several years, the owners of a Northeast Ohio retail shop had been satisfied with their business banking.......
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Long-Term Small Business Banking Relationships Begin with Well-Defined Expectations.

Why do some small business banking relationships thrive over several decades while others falter after only a few tumultuous months? For many family-owned companies that have flourished alongside a single longtime financial.....
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In the age of portability and high exemptions, trusts still offer unique benefits.

Eight years ago when Fred and Cynthia explored strategies for passing on their wealth, the estate planning landscape for married couples looked much different than it does today. Like many of their friends, they set up a standard A/B trust.....
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Choosing the right type of financing for your business needs.

Like many businesses, a small but successful parts manufacturer had taken out a commercial line of credit — a smart move to handle urgent working capital concerns such as purchasing raw materials to produce inventory, mitigating delays......
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Take a load off - The benefits of working with a private banker.

Private bankers serve as a conduit between a bank and its busy professional clients. “They are a single point of contact who act as a personal CFO,” says David Hall, vice president of private banking at Home Savings Bank. “They listen to their clients’.....
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Success without succession. Planning an exit when a succession plan isn’t an option.

The one certainty any business owner has is that they cannot work forever. If, for whatever reason, forming or executing a succession plan isn’t an option, the owner should consider selling the business as part of an exit strategy.....
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How to choose a bank that’s the right fit for your small business.

Officials at a local metal stamping business thought they had done their due diligence in searching for the right banking partner. After interviewing several institutions, they opted for a bank with a strong reputation for responsive service.....
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Take steps to minimize your business’s risk of becoming a cyber crime victim.

The morning coffee is still brewing when an email appears in the inbox of an accounts payable employee at a Northeast Ohio business. The company’s CFO is requesting an immediate wire transfer of $22,000 to a longtime vendor....
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Practical advice on getting more out of your charitable giving

Tax season may be months away, but it’s never too early to adopt strategies that can maximize your support of the causes meaningful in your life while helping to save money on your returns....
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How to put a business line of credit to work for your working capital needs

For small businesses that need just the right amount of money right now, a commercial line of credit provides an on-demand solution for their short-term working capital concerns....
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Another dimension - Leverage your bank’s investment expertise to uncover opportunities

The recent state of the market has led to excess cash on hand for many companies. Many are looking to seize the opportunity and invest. But when they do, they tend not to turn to their banks....
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Is an Ohio legacy trust the right choice for your financial future?

Twenty years ago, Alaska became the first state to allow the use of Domestic Asset Protection Trusts (DAPT) – a device designed to shield assets from future unknown creditors. Delaware followed suit the same year. These states joined a number of offshore jurisdictions that offered....
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The power of conversation

Banks enjoy the opportunity to discuss their business clients’ future. Technology has made many aspects of life easier, including banking. When you’re a business leader with numerous daily responsibilities, the extra time you gain from not having to make a trip to the bank can be quite valuable....
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Practical advice on financing your business acquisition

Anyone who has ever been immersed in the complexities of acquiring a business knows that the experience is more comparable to riding a rollercoaster than taking a Sunday drive. Finishing the transaction can leave you exhilarated at the prospect of increased sales and new markets to explore....
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Build a partnership

Work with your bank to understand the benefits of treasury management. Treasury management services provide a multitude of ways for companies to operate more effectively. The first step to realizing the benefits of these tools is to initiate a conversation with your bank.....
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Is it time to call in treasury management support? Critical questions for small businesses

In addition to fraud oversight, today's treasury management offerings encompass a range of a la carte options, such as online and mobile banking, ACH processing, remote deposit capture, payroll, wire transfers and merchant credit card services....
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Why consider a community bank for your middle market commercial real estate deals

Is it worth your while to search beyond the usual suspects when seeking a partner for your next multi-million dollar commercial real estate venture? For generations, small business owners have depended on community banks for convenient financial assistance in their own backyards....
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Be tax ready

It’s never too early to start planning for the next tax year. Tax reform is on the agenda in Washington, D.C., but it’s difficult to know what form it will take or what impact it will have on both U.S. businesses and taxpayers....
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Five reasons to consider taking advantage of financial planning software

Financial planning software is often distinguished between platforms that rely more heavily on cash-flow projections versus those that are based on the goals the client wishes to achieve. Some packages blend both approaches....
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How your business benefits from better communication with your lender

Be prepared to educate your prospective lender about the ins and outs of your business. A diligent loan professional will have spent time researching your company, industry and market, but it's up to you to make sure the lender knows your business's complete story....
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Secure your future

Find a bank that believes in your company’s business model. Companies that have built and maintained a strong relationship with their bank are in a much better position to overcome financial hardships....
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