June 2019 Special Section
2 | June 2019 | NorthFulton.com | ForsythHerald.com
Banking & Finance• Sponsored Section
Vinings Bank small business loans
The American Dream all over the world
Vinings Bank is now a Preferred Lender with the U.S. Small Business Administration. What does this mean – we are authorized by SBA to approve and provide loans through the SBA 7 (a) Loan Program to small and medium sized business borrowers. The 7 (a) Loan Program was created to provide small to medium for-profit businesses with long term financing (up to 25 years fully amortizing for real estate related loans and up to 10-year loans for equipment, inventory and operating capital). Lower loan to value requirements than conventional financing; lower down payments, some as low as 10%; and no balloon payments. Our funding amounts are from $200,000 up to $5,000,000. Our experienced team will provide the expertise to determine if your business is eligible for this program, will you through our stream – lined application process, and expedite approval and closing times. Vinings Bank is a locally owned
NAPS — Most people know someone who has dreamed of leaving the rigidity of a 9 to 5 job to pursue the flexibility of entrepreneurship. The majority don’t pursue that avenue, and the reasons vary, including financial obligations, time constraints, or fear of the unknown. In fact, two in five Americans dream about the day they can tell their boss they quit, but it’s not necessarily because they hate their job — instead, it’s because 67 percent have dreams of being an entrepreneur, according to new research commissioned by Herbalife Nutrition. And people really do feel their ideas can change the world — results show that, of those who aspire to open a business, 68 percent believe their idea would be revolutionary for the industry. People often associate entrepreneurship with “The American Dream,” but according to the research that surveyed 23,500 respondents — spanning 24 countries and including 2,000 Americans — looking at the entrepreneurship dreams of people around the globe, as well as their motivations and the challenges, the entrepreneurial dream is shared globally. “Starting a business from the ground up can be daunting but the opportunity to pursue your own passion can be a liberating and exciting experience,” said John DeSimone, copresident and Chief Strategic Officer, Herbalife Nutrition.
community bank and we are always looking for ways to give bank to the communities that we serve. Please contact either Joy Manbeck at 678710-2804/770-715-5422 or Dennis Leonard at 678-710-2809/404-2731481 for more information on our SBA Preferred Lender Program.
ICS®, the Insured Cash Sweep® service, and CDARS® provide smart, convenient ways for your organization to access multimillion-dollar FDIC insurance through a single financial relationship. Earn interest on funds placed into demand deposit accounts, money market deposit accounts and/or CDs; maintain access to funds; and eliminate ongoing collateral-tracking requirements. ®
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The international survey Across the globe, 64 percent of respondents cited their top reason to start a business was to follow a passion. For Americans, this was followed by becoming their own boss (59 percent), supporting their family (51 percent) and wanting to solve a problem/improve the world (36 percent). The survey found that 52 percent of aspiring American entrepreneurs have already taken steps to open their business. But that doesn’t mean there’s an easy road in front of them: With all the barriers business owners face, 81 percent of Americans interested in starting a business feel overwhelmed by the prospect. And 76 percent feel they may never have the opportunity to follow their dream, compared to 69 percent globally. Interestingly enough, 67 percent of Americans believe women face different challenges than men when it comes to
Two in five Americans dream of quitting their jobs, mostly because they dream of being entrepreneurs, according to a study. opening a business, including “defying social expectations, dealing with limited access to funding and struggling to be taken seriously.” The biggest barrier to entrepreneurship across the globe was found to be the initial cost of opening a business (65 percent). To finance the initial costs, Americans say they would use their own money (67 percent), followed by investors (36 percent) and money from family (34 percent). Where is the opportunity? As the gig economy explodes, more and more people are picking up a side gig to supplement their income, and that often involves selling products. As it stands, the side gig looks to be set to spread widely among all generations, perhaps becoming key income support for everyone from twenty-somethings to those who have supposedly long retired. In fact, about a quarter of all Americans — that’s 81 million people — participate in the sharing economy, according to the Pew Research Center. Of that, a record 18.6 million Americans now make a living or supplement their income with direct sales, according to the latest data available from the Direct Selling Association. As a result of the flexibility afforded by the gig economy, direct selling is proving to be an increasingly appealing option for people in search of the entrepreneurial opportunity of making part-time or full-time income. Direct selling is an industry that has always championed the power of free enterprise and a flexible, entrepreneurial approach to work. Now, more than ever, American innovation and dynamic change have pushed this important model to the forefront of the collective economic future.
Banking & Finance • Sponsored Section
Poised for success: Representatives of American Commerce Bank and owners of Mixteca Holding Group at ACB’s Johns Creek offices. From left, Karen Chavarria, personal banker, Soraya Kenney, branch manager, Fabian Hernandez and Antonia Hernandez of Mextica Holding and Carlos Laverde, Atlanta market president.
Local banks succeed as their customers succeed Local banks succeed as their customers succeed--and behind every success is a great story. American Commerce Bank in Johns Creek is pleased to be helping yet another business owner advance in our prospering community. Antonina Hernandez came to the US from Mexico 25 years ago. In 2000, she began selling home-made tamales. By 2017 she was operating food service businesses in Norcross, Duluth and Lawrenceville. The restaurants serve Mexican dishes, and her tamales are the specialty. By 2017, Antonina was producing 5,000 tamales a week—and felt she could sell 20,000 if she had them, but her businesses didn’t have enough production space. It took two years to identify the right space for expansion, but in 2019 Antonina and her business partner-brother Fabian got connected with ACB market president Carlos Laverde about a business loan for a 14,000 sq. ft. warehouse and commercial kitchen. “Antonina came to us by way of her property broker, Kevin Ahn”, said Laverde. We are proud of our referral network and work hard to stay connect-
ed to financing opportunities in the business community. The property Mixteca identified services food truck operators during the day and is available at night for tamale production. It’s an incomeproducing property that is ideal for their expansion.” American Commerce Bank was able to provide 80% financing on a 20-year term loan that closed within 45 days of application. Per Antonina, “Carlos was able to meet my closing deadline and the process was very smooth. This was the easiest loan I’ve ever received!” Mixteca has since moved its entire banking relationship to ACB. American Commerce Bank specializes in high-touch service for consumer and commercial banking customers. The bank offers market-leading deposit rates as well as convenient on-line banking and treasury management services. By structuring terms to the specific needs of business borrowers, ACB offers industry-leading solutions for customer success. Come build your story with us! For more information about American Commerce Bank, stop by the branch located at 10690 Medlock Bridge Road, or visit www.AmericanCommerceBank.com
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4 | June 2019 | NorthFulton.com | ForsythHerald.com
Banking & Finance• Sponsored Section
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