Donna Genie recommends small businesses keep an account with their loan bank to maintain the lending relationship, then pair it with a modern platform like Relay for daily operations. This combo balances traditional banking strength with digital flexibility for cash management.
Running a small business is all about balancing tradition and innovation. You need financial systems that are reliable yet flexible enough to support your growth and keep things running smoothly. So what's the ideal banking setup for a small to medium sized business? Let's take a look and break it down. First, if you've taken out a loan for your business, whether it's to expand your operations, purchase new equipment or upgrade facilities, keeping an account with the bank that issued that loan is probably a smart move. A strong relationship with your lender can be invaluable when you need to refinance or secure additional funding in the future. Traditional banks are often limited in their day to day banking capabilities. That's why we recommend pairing your loan account with a modern banking platform like Relay. Relay is a game changer for small medium sized businesses, offering flexibility and tools that make managing your money simple and efficient. You can easily transfer funds from your loan account to your Relay account to manage your operations or set aside money for projects. This combination lets you enjoy the convenience of in person banking while leveraging modern tools to streamline your operations.
