RISE Austin 2012

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.

RISE Austin is here, and I wanted to take a chance to let you know about some of the great sessions going on for entrepreneurs.

Topics: The Corner Office

The Business Bank of Texas, N.A. Welcomes Gary Green as a Senior Vice President, Marketing

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.

As a follow-up to our post on the bank expanding, we’re happy to announce that Gary Green is joining our team as a Senior Vice President. Gary will be focusing on working with small business customers, as well as owner-occupied real estate and equipment financing.

Topics: The Corner Office

The Three Deadly Pitfalls of Small Business Administration (SBA) Borrowing

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.

1. Blanket Liens

The general procedure on any SBA guaranteed loan is to require a blanket lien on all the assets of the business. A UCC-1 Lien would be perfected on all your tangible assets which include all your equipment and all your accounts receivable. What this means to you is the blanket lien on your account receivables prevents your company from using current and future receivables as collateral no matter how large the growth is in your business. Therefore, as a successful business owner, you would be constrained by this blanket lien from future borrowing. This is not a logical approach to helping any business.

Topics: The Corner Office

Banks use the 5 “C”s of lending to make business loans

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.

Every lending officer in a bank is taught the “C”s of lending. Sometimes they are known as the three “C”s, sometimes as the five “C”s. It can be helpful to understand each of the “C”s and the importance they play in making a business loan.

Topics: Featured, Blog Posts, The Corner Office

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Upcoming Changes in the Law for the Construction Industry

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.

Recently, I saw Mark Gaskamp of Wortham Construction give this presentation about some important upcoming changes that are relevant to risk management professionals. He has kindly given me permission to repost it here for more to see. There are many changes upcoming to laws pertaining to construction and subcontractors. I'd encourage you to read through this presentation if those rules might pertain to you. Some of them begin as soon January 1st of 2012, so make sure you aren't caught off guard.

Topics: The Corner Office, Risk Management

Small Business Lending Continues to Grow at The Business Bank of Texas

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.

A recent report from the Banc Investment Daily discusses how many banks and credit unions are seeing a decrease in the number of companies seeking loans. They mention a number of reasons why this is, including poor sales growth and poor economic conditions.

Topics: The Corner Office

The Business Bank of Texas is Expanding

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.

After growing 25% this past year, the Business Bank of Texas is looking to increase growth even further. We’ve gained a following in Austin, San Antonio and Victoria, and are looking to increase our presence further in Texas. If you’ve got what it takes to be a loan officer with us, we want to talk to you.

Topics: Featured, The Corner Office

Virtual Teller can save time, money and improve business bookkeeping

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.

The Business Bank of Texas offers all of its deposit customers free of charge Virtual Teller. Sometimes called remote check capture, or remote deposit capture, Virtual Teller is a tool that helps businesses increase productivity while decreasing the costs associated when making bank deposits.

Topics: Operations, Featured, Blog Posts, The Corner Office, Accounting & Finance

Audio podcast: High performing businesses surround themselves with trusted advisors

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.

Over Ed Lette’s 45 years in banking he has observed that high performing businesses have a common characteristic which is having a team of trusted advisors. Making up the team should be attorneys, CPAs, risk managers and bankers.

Topics: Featured, Business Best Practices, Strategic Planning, The Corner Office, Podcasts

"The Great Game of Business" by Jack Stack - Book Review

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Topics: Management, Blog Posts, The Corner Office

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