Financial Cents | Arizona's Financial Podcast

What is an SBA loan and what businesses are eligible for one? What can an SBA loan be used for? What are the requirements for receiving an SBA loan? Do you need a good personal credit history to get an SBA loan? And where can a small business owner apply for an SBA loan?

#sba #sbaloans #startups 

In this episode of Financial Cents, John Lewis, senior vice president and regional commercial manager at National Bank of Arizona, joins host Brent Cannon, executive vice president and director of community banking at National Bank of Arizona, to discuss 5 things most people probably don’t know about SBA loans.

“The Small Business Administration, or SBA, partners with financial institutions like National Bank of Arizona to be able to provide loans to small businesses. For the bank, these loans are guaranteed by the federal government up 85%,” says John. “This guarantee then allows banks to be able to provide more flexible terms for small business owners than they may ordinarily be able to get.”

“SBA loans can be used for a wide variety of things,” says John, “from short-term working capital to long-term working capital, in addition to acquiring assets like equipment or commercial real estate.”

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Need a business banker for your business? https://www.nbarizona.com/business/ 

Talk to a banker today by scheduling an appointment: https://www.nbarizona.com/personal/locations/

All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part. The information contained in this podcast does not constitute research, recommendations, representations or warranties as to the accuracy or completeness of the statements of any information contained in this podcast and any liability from Zions Bancorporation, N.A. or its divisions (including direct, indirect, or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast may not be those of Zions Bancorporation, N.A. or any of its divisions. Zions Bancorporation, N.A. is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of advice, investment or otherwise, by Zions Bancorporation, N.A. to that listener, nor to constitute such person a client of Zions Bancorporation, N.A. All loans subject to credit approval and SBA approval. Terms and conditions apply. See banker for details.    Equal Housing Lender NMLS #467014. Copyright reserved by Zions Bancorporation, N.A. National Bank of Arizona is a division of Zions Bancorporation, N.A. Member FDIC.

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What bank accounts and services does a small business need? What financial tools are available for small business owners who are just starting out? How can a relationship with a local business banker help you be proactive in operating your business?

Starting off Season 3 of Financial Cents, Chris Sarver, vice president and business banking team lead at National Bank of Arizona, joins host Brent Cannon, executive vice president and director of community banking at National Bank of Arizona, to discuss the 5 most important accounts and services a small business owner needs for their business.

Though a business checking account may be the starting point for any business owner, a business credit card can help manage the cash flow cycle, treasury management can help the business pay vendors and get paid by clients quickly and efficiently, and lending can help the business expand. But perhaps the most important service a business owner can have is a relationship with their local business banker.

Need a business banker for your business? https://www.nbarizona.com/business/ 

#banking #business #smallbusiness

All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part. The information contained in this podcast does not constitute research, recommendations, representations or warranties as to the accuracy or completeness of the statements of any information contained in this podcast and any liability from Zions Bancorporation, N.A. or its divisions (including direct, indirect, or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast may not be those of Zions Bancorporation, N.A. or any of its divisions. Zions Bancorporation, N.A. is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of advice, investment or otherwise, by Zions Bancorporation, N.A. to that listener, nor to constitute such person a client of Zions Bancorporation, N.A.  Credit card accounts are subject to credit approval. Certain terms, conditions, and restrictions apply. See the credit card application and disclosures for more details. Offers are available for new credit card accounts only and subject to change at any time. Loans subject to credit approval. Certain terms, conditions and restrictions apply; contact bank for details. SBA Loans are subject to credit approval and SBA approval. Terms and conditions apply. See banker for details. Terms, conditions and fees apply for Treasury Management Solutions and Positive Pay. Contact a banker for details. Merchant Services products and services are provided by Clover affiliate First Data Merchant Services LLC and not by National Bank of Arizona, a division of Zions Bancorporation, N.A. Member FDIC. Remote Deposit Service is subject to credit approval. Terms and conditions apply. Certain hardware and software requirements may apply. Remote Deposit Capture and Business Mobile Remote Deposit Capture require enrollment in the Treasury Management Remote Deposit Capture service. Acceptance of Client Agreements is required for Remote Deposit Capture service and a User Agreement must be accepted by each mobile application user. Service and transaction fees apply. Fee may apply for early termination. Subject to data coverage. Message and data fees from your wireless provider may apply. See a banker for full details. Copyright reserved by Zions Bancorporation, N.A. National Bank of Arizona is a division of Zions Bancorporation, N.A. Member FDIC.

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What is a 501(c)(3) organization and how can a nonprofit obtain that status? What bank accounts and financial tools and accounts do nonprofits need? And why do nonprofits need a board of directors and what goes into serving on one? With nonprofits playing such a vital role in our community and economy, 

In this episode of Financial Cents, Melissa Steimer, CEO of the nonprofit Gabriel’s Angels, joins Pamela Keefe, vice president, nonprofit relationship manager, and Brent Cannon, executive vice president, director of community banking at National Bank of Arizona, to discuss the challenges facing nonprofits today and how the right financial tools and solutions can help nonprofits overcome those challenges.

As Melissa discusses, nonprofits must follow certain regulations – not just to maintain their 501(c)(3) tax exempt status, but to ensure they are providing for their communities – which can make day-to-day business operations tricky. “At the end of the day, a nonprofit does make a profit,” says Melissa. “The biggest difference here is that the profit is not going to shareholders or an owner or other individuals, it’s going back into carrying out the nonprofit’s mission. That’s where the community good comes from.”

And given that the funds a nonprofit generates comes from donations, grants, and other sources that can be seasonal or short-term, it’s all that much more important to have the right tools and board leadership in place. “It’s not just about having a bank account created for nonprofits, it’s also about having fraud prevention tools in place, like Check Positive Pay¹. Having other tools to create efficiencies, like ACH for payroll and vendor payments, and a credit card.”

Financial Cents is hosted by Brent Cannon and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Interested in learning more about Nonprofit Banking? Learn more about our Nonprofit Banking solutions and connect with a banker here: https://www.nbarizona.com/business/specialty-banking/non-profit-banking/. 

Get involved or donate to Gabriel's Angel's: https://www.gabrielsangels.org/.

(1)    Terms, conditions and fees apply. Contact a banker for details.

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How does fraud impact small businesses? What are the most common types of business fraud? And how can a business owner protect their business from fraud? With business fraud on the rise, it’s becoming not a matter of if a business will be impacted – but when.

In this episode of Financial Cents, Katherine Cobb, senior vice president, manager of the Cybersecurity Operations Center at Zions Bancorporation, joins host Brent Cannon, executive vice president, director of community banking at National Bank of Arizona, to discuss the impact of business fraud, how the most common types of business fraud work, and what business owners can do to protect their businesses. Because according to Katherine, small businesses make ideal targets for fraudsters since they often don’t have the resources or controls in place to protect themselves.

Many of the most common types of business fraud we see today are designed to exploit our reliance on digital communication. Business email compromise is where a fraudster impersonates a business’s vendor and sends the business updated payment instructions so the business wires their money to the fraudster’s account. Another common type of fraud is CEO fraud, which is when a fraudster impersonates the CEO or other company executive and emails a low-level employee with instruction to wire money to the fraudster. Other types of fraud that are prevalent today include phishing and spearphishing, vishing, smishing and check fraud.

Regardless of how the fraud is perpetrated, there are things businesses can do to protect themselves. “The biggest thing I would say is for business owners put a callback system in place along with a dual control system,” says Katherine. “That way, any payment changes are verified directly with the vendor and there’s always a second employee who can act as a check and balance.” In addition, banking products like Check Positive Pay(1) can also help business owners protect themselves.

Financial Cents is hosted by Brent Cannon and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Interested in learning more about how we can help you mitigate business fraud? Contact a banker: https://www.nbarizona.com/personal/schedule-appointment/

All price references and market forecasts correspond to the date of this recording. This podcast should not be copied, distributed, published or reproduced in whole or in part. 

The information contained in this podcast does not constitute research, recommendations, representations or warranties as to the accuracy or completeness of the statements of any information contained in this podcast and any liability from Zions Bancorporation, N.A. or its divisions (including direct, indirect, or consequential loss or damage) is expressly disclaimed. The views expressed in this podcast may not be those of Zions Bancorporation, N.A. or any of its divisions. Zions Bancorporation, N.A. is not providing any financial, economic, legal, accounting or tax advice or recommendations in this podcast. In addition, the receipt of this podcast by any listener is not to be taken as constituting the giving of advice, investment or otherwise, by Zions Bancorporation, N.A. to that listener, nor to constitute such person a client of Zions Bancorporation, N.A. See your banker for Treasury Management product details and schedule of fees. Certain Treasury Management Services may require credit approval; contract may also apply. Must be enrolled in Positive Pay. Terms, conditions and fees apply

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What’s the difference between a bank and a credit union? What are questions to ask a bank when deciding to open a new business account? Though deciding which bank is right for your business may feel overwhelming, it doesn’t have to be if you know what to look for and understand how a bank can help your business grow and thrive.

In this episode of Financial Cents, Tom Kaupie, senior vice president and regional commercial manager, joins host Brent Cannon, executive vice president and director of community banking, to discuss the key differences between banks of different size, what a business owner should be on the lookout for, and what questions a business owner should ask when vetting banks for their business. What you should look for, according to Kaupie, is finding a bank that isn’t so small that your business will outgrow the products and services it offers and isn’t so large that it’s difficult to have a relationship with your banker.

What it all comes down to, according to Brent and Tom, is making sure your bank will be able to support your business as it grows and becomes more sophisticated. As your business evolves, so will your banking needs. At the same time, you’ll want to make sure you’re working with a banker that can offer insights and knowledge. 

“If your bank is not providing some kind of consultation,” Brent explains, “if they are not helping you bridge the gap between what you know, what you don’t know, and what you don’t know that you don’t know, it may be a good cue for you to look for another bank.”

Financial Cents is hosted by Brent Cannon and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Need a business banker for your business? https://www.nbarizona.com/business/

#smallbusinessowner #smallbusinesstips #banking

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Will Arizona run out of water? With Arizona in tier 2A of water cuts from the Colorado River, water shortages in the state are a big concern. However, the Colorado River is not the only source of water that Arizona has. 

To discuss Arizona’s water sources and usage, host Brent Cannon, executive vice president and director of community banking, sits down with two members of the National Bank of Arizona Agribusiness Banking team, Matt Eyrich, senior vice president and regional commercial manager, and Carrie Morales, vice president and agribusiness banking team lead.

Carrie and Matt lend their insights from working directly with farmers to discuss the variety of ways Arizona agriculture uses and conserves water. Arizona famers have been dealing with water and its conservation for a long while. Carrie and Matt’s conversations with their agribusiness clients don’t typically talk about if Arizona will run out of water, but rather what water source is best used. 

As Carrie Morales explains, “the important part is to think that there's more than just one source of water. We have the Colorado River water, we have the in-state river water, which is the SRP stuff, and you have the groundwater.”

Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Need the specialized help of an agribusiness banker?  https://www.nbarizona.com/business/loans-leases-and-lines/specialty-lending/agriculture-loan/

#arizona #watershortages #coloradoriver

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The Arizona agricultural industry is vital to the economy not only locally, but also worldwide. With Colorado River water shortage and rising concerns of climate change, how do we sustain this $23 billion industry that supports over 138,000 jobs?

In this episode of Financial Cents, Brent Cannon sits down with two members of the National Bank of Arizona Agribusiness team, Matt Eyrich, senior vice president – regional commercial manager – agribusiness banking, and Carrie Morales, vice president – team lead – agribusiness banking, to discuss everything in the Arizona agriculture industry. Carrie and Matt lend their insights from working directly with farmers to discuss the large scope of the Arizona Ag industry, the 5 C’s of Arizona, water, sustainability, and climate change.

All the way from cattle in Northern Arizona to cotton and wheat in Central Arizona to the salad capital in Yuma; Arizona agriculture and farming exports to over 70 countries around the world. As Matt Eyrich explains, “whether you’re talking about in Yuma or Central Arizona, we pretty much have year-round crops going on here. So, unlike the Midwest or farther north where you have a definite season because winter comes… there’s something always going on in Arizona.”

Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Need the specialized help of an agribusiness banker?  https://www.nbarizona.com/business/loans-leases-and-lines/specialty-lending/agriculture-loan/

#arizona #climatechange #agriculture

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Being a business owner is hard. For some minority groups it’s even harder when getting access to capital has been a challenge. At National Bank of Arizona, we’re providing greater equity for women, minority, veteran, and LGBTQ business owners through our Small Business Diversity Banking Program.

In this episode of Financial Cents, Brent Cannon, EVP and director of community banking, and Chris Sarver, VP and business banking team lead at National Bank of Arizona, speak with Carly Klein, founder and president of National Hair Loss Med Aesthetic, about business challenges for women, minority, veteran and LGBTQ business owners.

National Bank of Arizona understands that access to capital can be a challenge for businesses owned by minorities, women, veterans and the LGBTQ community. So we’re investing in greater equity for these communities through our Small Business Diversity Banking Program. Under the Equal Credit Opportunity Act, this program is dedicated to give a wider access to loans and lines of credit through Special Purpose Credit Program eligibility standards. Visit https://www.nbarizona.com/diversity/ for more information or talk to a banker.

Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/

Do you know your banker’s name?  https://www.nbarizona.com/business/

#diversity banking #small business loans for minorities #equity

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The current U.S. inflation rate is on the rise. What is causing inflation? How long will it last? How is this affecting the cost of living? 

In this episode of Financial Cents, Brent Cannon and Anthony Valeri, director of investment management at Zions Bancorporation, discuss what causes inflation and answers questions about the current inflation, rising cost of living, and even how it affects your retirement.

Financial Cents is hosted by Brent Cannon, executive vice president and director of community banking, and features insightful interviews and discussions with bankers at National Bank of Arizona. Based on decades of banking experience, Financial Cents provides the insights you can only get from a friend in the business.

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-cents/.

Have a business and need a banker? https://www.nbarizona.com/business/
Looking for personal banking? https://www.nbarizona.com/

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