Updated: Oct 30, 2020
State Bank of Southern Utah presented September's Luncheon on the Topic "How can your bank help your business?" They talked about managing cash flow, technology to make your life easier, and how having a working relationship with your banker can benefit you.
State Bank's branch manager Amie Peterson and Justin Taylor informed us about some great things banks can do. Here are 5 ways banks can help your business.
Manage cash flow better.
When you need money, banks can help you expand your business, collect ACH (Automated Clearing House) payments from vendors, give your business a line of credit, and even get you a business credit card to collect points and build credit.
2. Payroll and payments
a. Paying your employees can be easy. Use direct deposit, and pay ACH bills. Use that business credit card to build up points and credit! Set up auto pay and auto bill.
3. Relationship with Banker
a. Justin and Amie recommend meeting with your banker annually to get updates on business banking, and to review fees, bills, and payments. It's your banks job to help make your business successful! They would be happy to make sure you are satisfied
4. Tax goals
a. Paying taxes can help you get approved for loans. Bankers can check to make sure you are paying the least amount of taxes as possible, while still showing accurate profit. Don't forget to meet with your accountant, too!
5. Knowledgeable advisor
a. Bankers can be good resources for other business contacts you may be interested in doing business with. They can help you network, plan for future business growth, and keep you up to date on the banking world.
Your banker can be a bridge to your business success. Let them help you with your business goals to grow your business!
Lunch was from Quality Market Deli. Thank you to all who presented and helped with the delicious lunch! Thank you to those members who came to hear from State Bank of Southern Utah - Delta Branch.
New Business Introductions:
I Got Muddy is a business for the dirty, muddy, truck drags and races. Amanda Robison and her husband RL started this business in Delta because the county has ideal facilities to put on these Mud Races. It is rare around Utah to have an actual track for mud races. Delta has enough amenities to accommodate the large crowds these events will bring each summer. We are glad to have I Got Muddy and new, fun summer events here in Delta.
Delta Valley Trucking is also a new Member to our Chamber. Inspired by Snake Valley Trucking, Delta Valley Trucking has been in business since 1964. Carl and Russell Anderson own and run this trucking company. They haul mostly cheese from Fillmore all over the Western, and occasionally Central, United States. They haul for some local businesses, including Liqua Dry. The Anderson's have an additional business called Silver Sage Brokers where they help others buy and sell various truck loads.