We own a few properties in NJ and PA. Mostly multi-family in re-gentrified and established neighborhoods. We have had a business banking relationship with a regional bank for going on 4 years. We self finance so our relationships are limited to savings and checking. We diversify our treasury so as the world progresses we are looking forward to integrating more of our treasury with our active RE operations. As the folks here know, many U.S. cities have high LTV ratios and we want to be as prepared as possible to seize opportunities that may develop from this tenuous reality as the world gets back in balance. We have noticed banks are eager to have businesses that need mortgages, lines of credit, ect to survive and grow - but small operations that only need basic banking services are less desirable as customers. We have also been told, to different degrees of directness, that companies that are early adopters of non-traditional treasury structures are discouraged as customers. So we are looking for suggestions/recommendations for smart, progressive clearing house linked financial institutions in the midatlantic region (NY, NJ, PA) that work well with progressive small businesses. We are open to any suggestions, though a younger more startup minded bank would be preferred, as they would likely be a better fit than a more conservative older institution. Locations are not important as long as they on board remotely/online and have a strong "online friendly" presence that can satisfy most general banking needs (attractive ach fees, online check deposit, ect).
Hey Alan, your a wealth of out of the box idea. Gave me lots of research - appreciate. We did end up doing some private financing once we ran into the known issues w/traditional banks - we will definitely look into crowd funding and the EV angle you mentioned. Thanks