Category: Banking

Credit Unions versus Banks

Executive Summary: A credit union is a viable option for many small businesses. Consider the advantages of a credit union over a traditional bank. What is a credit union? It’s “big bank lite”. It’s a bank with checking accounts and savings accounts, with mobile banking services, with internet access, tellers, […]

What’s a Banking Covenant?

Executive Summary: What are banking covenants? Banking covenants are conditions put upon a borrower by the bank. Although they can be general in nature, they often are quantitative. Some typical covenants are listed here. What sort of loan? In the construction industry, there’s all sorts of loans: line of credit, […]