First steps- creating the business foundation

[Carolina Mejia]

Hello everyone. LLC is made, EIN issued, DUNS # issued. What bank should I open up an account with. I don't remember if its a credit union or a community bank that they keep mentioning on the podcast that is able to be more flexible making loans. Any help appreciated. I am in north GA, Duluth area.

[Nathan K.]

Great work, Carolina! That's super exciting to hear. I chose a local community bank because they're small, great reputation, and super friendly. Whenever I call for something, I recognize the name and voice of the person on the other line which is vastly different than large banks like Chase where you're just another number in the line. Remember relationships are built over time, so it may take 3-5 years of solid membership and interacting with your bank before they know and trust you enough as one of their regulars. But with that being said, credit unions consistently have lower rates for loan products.

Keep it up!