Episode 12

Why Your Business Needs a Bank with Saira Rahman

00:00:00
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00:42:02

June 8th, 2020

42 mins 2 secs

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About this Episode

In this episode of the Hello Blink Show, Harris and Shawn interview business banker, Saira Rahman. Saira shares her insights in how she advises her clients at Alpine Bank.

Specifically, Saira discusses broader topics including why financial management is important and what a bank can do for your business legally.

One Powerful Quotation:

  • 17:50: “As you grow, you’re going to want to branch out and have multiple relationships depending on what you need…It all depends on what your niche is and what you’re focused on and the level of knowledge that your banker has not only on your specific industry but also on the overall market.”

Key Topics:

  • 1:05: Harris opens the show by asking Saira about her background.
  • 2:14: Saira shares how she became a business banker with Alpine Bank.
  • 4:09: Shawn asks Saira about the charter of Alpine Bank.
  • 4:56: Shawn inquires if Saira enjoys her role at a smaller bank.
  • 6:12: Saira shares how she uses Twitter as a means to discussing important items and acquire information for her work.
  • 8:14: Harris asks Saira about her experience with the process of handling commercial clients and the Small Business Administration.
  • 11:16: Saira explains the difference between PPP, EIDLP, and small business loans. She describes the process involved and how they are applied.
  • 15:16: Harris remarks that small banks have been very responsive to loan grants. In turn, he asks Saira her opinion on why it matters what bank you choose.
  • 18:39: Shawn inquires with Saira about protected guarantees with a community bank.
  • 20:17: Saira shares what to research for in bank’s financial statements including their balance sheet, income statement, and loan loss reserve.
  • 22:41: Harris and Saira discuss how choosing a bank should be a considerate decision and personality fit.
  • 25:03: Harris asks Saira about the drawbacks in having only an online banking provider.
  • 27:44: Shawn and Saira talk about why you must have a separate banking account from your personal.
  • 29:33: Saira explains the benefits of using a business credit card to streamline your taxes and help underwrite business loans. She also encourages listeners to work with a CPA.
  • 31:22: Saira notes the value of a business credit card based on the lowest fee and best perk available.
  • 33:49: Harris asks Saira her advise on increasing your financing needs based on capital structure and loan/line of credit requests. She also advises listeners to forecast their finances with a branch manager or accountant to plan out their goals accordingly.
  • 37:01: Saira remarks why it is important to have a continual conversation with your financial adviser through the up and downswings of your business.
  • 38:00: Saira shares what she thinks are the biggest mistakes small business owners make.
  • 40:55: Harris wraps up the show, and Saira shares her contact information.

List of Resources
Website - SBA
Website - Paycheck Protection Program (PPP)

Guest Contact Information*
LinkedIn - Saira Rahman
Twitter - Saira Rahman

Host Contact Information:
shawnhymel.com
kennyconsultinggroup.com
LinkedIn - Shawn Hymel
LinkedIn - Harris Kenny
Twitter - Shawn Hymel
Twitter - Harris Kenny

License Information:
“Hello Blink Show” by Kenny Consulting Group, LLC and Skal Risa, LLC is licensed under CC BY 4.0
Intro and outro song is “Routine” by Amine Maxwell is licensed under CC BY 3.0

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