Many small business owners are denied bank loans from major thrifts to help fuel their operations and are left looking for alternatives. One option may be small community banks. In this article, regional and community banks are referenced as valuable sources for small business loans. With such institutions comes the advantage of a more personal relationship with bank management. Trust simplifies the loan process and can lead to a long-term partnership. Additionally, some community banks offer advisory services to borrowers, making for a more efficient use of capital. Just as small community banks provide an alternative option for loans, prepaid credit cards serve as an alternative spending tool for small business owners who cannot obtain traditional, corporate cards.
Toffer Grant is PEX's Founder and CEO. He founded PEX in 2006 as a prepaid card solution for small businesses. His background in the prepaid industry began at Clarity Payment Solutions, where he initiated 65 prepaid card programs in consumer, corporate, and emerging verticals of the prepaid card industry.