Welcome to Bay Cities Business

assists small to large scale business owners in obtaining funding from lending institutions.  Currently, it has developed networks with so many local banks, credit cooperatives, and other lending institutions thus bridging the gap between lenders and borrowers through effective financial intermediation, advice, loan packaging, and documentation services.

about-section

About Us

Bay Cities Business has been operating as a private financial intermediary since 2008.  It’s a corporation run by seasoned former bank executives from Michigan and New Jersey.  A few years from inception, it has packaged loans for business owners from Birmingham, Northfield, Bay City, and various cities in Michigan.  Today, however, it has widened its clientele to include those unserviced sectors of the population.

The company recognizes the need to diversify portfolios and to constantly re-invent itself to cater to evolving needs of borrowers and lenders.  Thus, the group has recently opened its doors to small businesses searching for micro-financing.

Financial

Bay Cities Business has been operating as a private financial intermediary since 2008

Assistance

Bay Cities Business assists small to large scale business owners in obtaining funding from lending institutions

Portfolios

The company recognizes the need to diversify portfolios and to constantly re-invent itself

What Banks Look For When Interviewing Loan Applicants

Here’s what your bank is looking for during an interview about your loan application.

Information

Banks look closely at the financial data you are presenting therefore, you need to prove that you are organized, capable of transferring your business ideas in writing, and able to support these with financial data.  Present factual info about your business and industry, and the plans you’ll carry out to comfortably pay off the loan.

Collateral

One way bank manages risks is to seek for quality collateral for loans granted.  Find out which types of collateral are acceptable to banks and be ready to present them to your bank officer including supporting documents.

Experience

When talking to your bank about your loan application, be confident answering their inquiries about your business and the loan you are applying for.  Your inputs will help your bank officer gauge your experience as a business owner and your potential as a borrower of good standing.

Always be ready to supply information asked for by your bank.  Your confidence and experience will pay off in the end.

Three Smart Ways To Fund Your Small Business

Starting a small business but can’t decide how to fund it?  Here are three smart ways to go about it.

Dig into your pockets

At the initial stages, your best move is to self-fund for some time before relying on other people’s pockets.   Start digging into your savings or valuable assets you can leverage on.  When you’re risking your own money, you’ll refuse to fail and focus on making more profits.

Approach family and friends

While there is a possibility of ending up with broken relationships due to unpaid debts, there are also safeguards that you can implement.  Borrow money that is just sufficient to open and operate the business profitably. Borrow for the short term but promise to pay higher returns.

Seek small business loans

There are many companies assisting small business start-ups.  Be ready with a great business plan and cash flow projections that show your company can turn out profitable.

Decide on a practical funding route for you but whatever it is, make sure you stay on top of your business at all times.

 

 

Hi I’m Charles

Knowledge is the key to a successful financial future. My background, experience and commitment to providing you with the resources you need to make financial decisions, can help make your financial future as successful as you need it to be. I pride myself in getting to know each client so that I can understand their individual needs and what matters most to them. This helps me recommend products and strategies designed to meet their current needs, and more importantly, their future needs.