Elon Musk recently put in a bid to buy Twitter for $43 billion. It’s only a piece of his reported $215 billion net work, but he cannot simply spend $43 billion, nor can he just go to a bank and get the money. His net worth, like many business owners, is tied up in his business and thus unable to simply do as he please on his own. Even if you are not a business owner, how you plan your…
We are feeling the pinch of inflation in our pocketbooks. We are also experiencing rapid increases in interest rates. Gerard Buccino, CEO of Centrust Bank, was featured today on Milwaukee TMJ4’s Morning Blend to explain what it all means. To Recap: Rising interest rates can mean higher returns on savings. That’s the good news: Rising interest rates mean that the money you’ve deposited is now eligible for higher returns. The bad news is the level to which those rates rise…
Cybercriminals are after all types of data. Cybercriminals find value in almost everything such as Payment Card Information, Protected Health Information, Critical business files and any personally identifiable information like Social Security Numbers, birthdates and banking information. If you have a business and your data includes individuals’ personally identifiable information, that adds up and is incentive enough for a hacker. It’s big business on the black market. In case you missed it, Joe Emerich, Founding Partner of Xartis Group was featured on TMJ4 News The…
Women’s History Month is a time to celebrate achievements women have made over the course of American history, however one only needs to look to growth the last five years to be impressed as women-owned businesses grew more than 21%. Despite the incredible growth, women-owned businesses are still in the minority of overall business ownership, and statistics indicate that female entrepreneurs start their companies with 50% less capital than their male counterparts. Small-business loans from banks typically come with the…
Existing COVID Economic Injury Disaster Loan (EIDL) borrowers will receive an additional deferment of principal and interest payments for a total of 30 months deferment from inception on all approved COVID EIDL loans. The extended deferment period will provide additional flexibility to small business owners impacted by the pandemic, especially those in hard-hit sectors managing disruption with recent variants, as well as recent supply chain and inflation challenges amid a growing economic recovery. Since its inception, the COVID EIDL program, a federal disaster relief…
Women’s History Month is a time to celebrate achievements women have made over the course of American history, however one only needs to look to growth the last five years to be impressed as women-owned businesses grew more than 21%. Despite the incredible growth, women-owned businesses are still in the minority of overall business ownership, and statistics indicate that female entrepreneurs start their companies with 50% less capital than their male counterparts. Small-business loans from banks typically come with the lowest…
The pandemic presented seemingly insurmountable obstacles to business owners everywhere. Business leaders were forced to examine every aspect of their operations looking for opportunities to pivot their model to address new market needs – or market needs that existed, but they had not meaningfully participated in before. This was the challenge for Brenda Baird and her family-owned promotional magnet manufacturing business, MagnetStreet. Born inside the kitchen of its founder in 1991, MagnetStreet produced printed products on magnets such as real…
If you assume that your small business will glide peacefully under the radar of the hacker community, you’re not alone. And unfortunately, you may be setting yourself up for disaster. According to Keeper Security SMB Cyberthreat Study, nearly 70% of senior decision-makers at small businesses believed that they were unlikely to be targeted by cybercriminals. But they’re wrong. CNBC found that hackers target small businesses at least 43% of the time, and yet only 14% of companies were prepared to…
Dear Centrust Business Banking Customer, As you know and have experienced, the past 2 years has been a trying time to be a business owner. The challenges and the government response and stimulus efforts have been unprecedented. Centrust has been your partner through this entire process and are committed to your success. We led the way to make sure all our customers that qualified for the Paycheck Protection Program loans were funded and assisted with forgiveness applications. The PPP loan…
President and Chief Lending Officer of Centrust Bank, Matt Tilton shared on Milwaukee’s NBC TMJ4 Morning Blend about how folks are using the booming real estate market as an opportunity to acquire investment properties. Contact us at Centrust Bank for your commercial and investment property real estate lending needs.…
