Ken Yager contributed to this article for the Chicago Tribune.
“I need someone I can talk to who can understand the dynamics of a small business,” says Ken Yager, who owns Newpoint Advisors, a Schaumburg, Illinois-based consulting firm. “With a big bank, you just disappear into an account number.”
Yager, whose firm specializes in helping financially troubled small businesses, uses larger banks for tasks like money transfers, but depends on his community bank for most of his needs. He finds community bankers more willing than larger ones to try to help companies succeed.
“They’ll ask questions like, what collateral do you have? Do you have a plan? What have you missed in your business that could do to help make things better?” he says.
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