Main Street vs. Wall Street:

The importance of small business has never been so significant to me than it is now that I am in the process of applying for a PPP loan for my consultancy business. 
Like you, I lay awake at night worrying about bills and the future at a time when face to face business is currently dried up. 
How many of you have been frustrated applying only to discover the money was all gone? According to many reports, a lot of the money didn’t go to small businesses.

In this time of frustration, I turned not to the big banks that we are all familiar with (and where I do have accounts) but rather to a hometown regional bank where the power of a relationship means everything.  
First I consulted my brother, who for a long time has had a tax accounting business in the middle of Minnesota. He’s part of the National Society of Accountants, a group  full of small town accountants, who believe in the importance of Main Street and who on a daily basis, deal with the notion that they are not the equals of the big name, big city accountants.  
Trust me, they are equally as smart and savvy – they just choose to have their businesses local, where “everybody knows their name.” 
So that is what led me to the regional bank, where not only do they know you, but they had the ability to quickly cut through the sea of information.  They were prepared and knew exactly what the steps were without the same mountains of applicants like the bigger banks (although they still had plenty). Their solid reputation with the SBA helps too!    
I compare them to the small but mighty little engine that could.

If you are preparing to apply for the next round of available money, I recommend thinking about who you know that has relationships with a smaller regional bank. You’ll be surprised at their willingness to help and you may have a much less frustrating time of it.  

The truth is, in this quarantine time where we have more time for reflection, I have re-learned the importance of my relationships. That big isn’t always better; that simple things mean a lot; and I hope we all emerge with a greater sense of love for our Main Street peeps.  

PS: The loan money went into my account today!