Ed Lette's Interview on The Exit Plan Show

by Dwayne Kolly

Business Bank of Texas

Dwayne Kolly brings a wealth of financial management and operations experience to Business Bank of Texas. Kolly has served community banks in south and central Texas for nearly 30 years, and is the bank’s CEO and Chief Financial Officer. He is a graduate of the Southwestern Graduate School of Banking at SMU (1993).

The Exit Plan Show exists to help business owners vet and choose advisors in a variety of disciplines to help them create a seamless “exit plan” for their businesses. This includes goals such as growing a company, transitioning the business to new ownership smoothly, and retiring well.

Topics: Commercial Lending, Business Bank of Texas News

How to Save on Bank Fees & Build Up Your Cash Balance

by Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

To truly master your business finances, you have to know where to start first.

In Philip Campbell's brilliant 3-phase process to financial mastery, he explains that the first step toward financial success for your business is to build up your cash balance to one month of operating expenses.

It’s important to have at least one month of operating expenses in your business bank account to avoid unnecessary stress, anger, and irritation. You need to take a look at the financial reality of your business and gain insight into where you’re spending and losing money.

Topics: Bank Customer Tips, Accounting & Finance, Commercial Lending

What You Need to Know About Borrowing for Your Business [SlideShare]

by Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

What do you need to know to apply for a commercial loan?

You know your business—its ins and outs, all the big ideas and tiny details. You may be considering the next steps to keep growing, but do you know where to begin with borrowing for your business? Do you need an advancing term loan or a permanent loan? What are the necessary forms and requirements? What is a debt service coverage ratio?

Topics: Bank Customer Tips, Accounting & Finance, Taxes, Commercial Lending

4 Ways Commercial Advanced Term Loans Help Businesses

by Ed Lette

Business Bank of Texas

Ed Lette is a Founder of Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

Banks offer a number of financial products that help smart business owners get ahead. Businesses only know to take advantage of those products once they learn what they are and how they work. An advancing term loan could be the answer to a problem your business faces. Here's what you need to know to find out.

Topics: The Corner Office, Commercial Lending

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