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We don’t have to tell you that running a business is hard (of the blood, sweat, and tears variety). And we don’t have to tell you that it requires you to eat, sleep, and breathe nothing but the business. Because, by your very nature, an entrepreneur like you is dogged, free-thinking, industrious, full of moxie. But just because you’re self-sufficient doesn’t mean you have to go it alone. So when your business is young and you’re running a manufacturing assembly line out of your parents’ garage or trying to expand into new markets, we’ll be there. It may be business—but it’s still all about connection and commitment.
Choose where you are in the life cycle of your business, and we’ll show you the products, services and strategies to help you thrive!
So you have a day job and everything is…fine. But there’s that feeling—a tug at your skin, a stir in your stomach, a little voice that whispers. You know you were made for something else, something more. Cupcakes. That’s right. You have a vision of cupcakes both decadent and healthy that will change people’s lives. You have the sweet recipes and a compelling logo and branded business cards. You’ve even drafted a business plan. But now what? Where do you start? How do you put your vision out into the world? Well, that’s exactly what we’re here for. Start with these products:
The start-up phase requires major working capital—every penny you can get—and you can apply for a small business or SBA (small business administration) loan to fund those initial costs. Most SBA loans feature flexible rates, no prepayment penalties, and no balloon payments.LEARN MORE
The core fundamentals of any successful business are managing company finances, streamlining spending, and improving cash flow. This account can help you do just that when you add ProvidentConnect for Business Online Banking and a Provident Business Debit MasterCard®, which gives you cash back when you use it!LEARN MORE
Remember the working capital we just mentioned? A business credit card will give you the wiggle room you need, especially if a kitchen fire flares up. (Yikes!) If you consistently make your payments on time, you can establish good credit history, which is imperative for future borrowing and investing.LEARN MORE
The easier it is for customers to make a payment—the more they will. Offer numerous payment options—credit cards, debit cards, gift cards, etc.—even on the go. If you take your cupcakes to a festival, stadium, trade show, or expo, you can accept credit, debit, or cash payments right from your smart phone or tablet with POGO!LEARN MORE
The word has gotten out: you offer the best cupcakes in town. You have a small, but burgeoning, customer base—and they’re crazy for cupcakes, specifically yours. The chocolate coconut is simply to die for, they say. The red velvet will change your life. Suddenly, there’s a line out the door and you have more demand than you can supply. You hire a couple of employees to help you keep up. The money is steadily pouring in and there’s no doubt that business is booming. But you’re not firmly established yet and therefore vulnerable. Make sure you identify business needs early and specifically and employ sound money management tips to keep the cash flow, well, flowing.
During the start-up phase, most, if not all, of the revenue goes right back into the business. But now, you have some excess cash that should be saved for unexpected expenses. Create a nice little cushion for the pitfalls by earning interest in a statement or passbook savings account.LEARN MORE
It may seem like an unnecessary luxury at this stage in the game, but automating payroll actually saves you money—and a headache! Our payroll services offer simple, transparent, and accurate tracking, leaving you more time for other things.LEARN MORE
Renting a cupcake shop means you're paying to just inhabit the space. Owning the building, however, can increase the value of your company and solidify your reputation. Apply for an owner-occupied commercial mortgage to buy the building - and in the future, someone may be renting from you!LEARN MORE
You’ve made it through the growth stage and reached the crest. The business is coasting now and life is good. But you cannot rest on your sugary-sweet laurels. Because in order to survive, your cupcake shop needs to continue to expand, to innovate, to push—it is the nature of business. Organizations in the expansion stage must cut costs, increase productivity, and leverage existing assets to fuel growth. Because it is the next logical step to increase your footprint, you’re opening more shops across the region. You’re adding more flavors to your menu, venturing into ice cream and cookies, exploring pup cakes. But expanding too quickly can be problematic; that's why we'll help you expand smartly but conservatively, ensuring you don’t overextend your reach. Start with:
Maximize earnings, pump up your purchasing power, cut costs, and simplify cash management with this premier, interest-bearing account.LEARN MORE
This long-term savings option with competitive interest rates can help you create a cushion for unexpected expenses.LEARN MORE
Excellent cash management services are imperative because excellent cash management is imperative. These services address challenges that are most cumbersome: working capital, efficiency, and fraud. You can’t afford not to have them!LEARN MORE
A line of credit is beneficial in this stage because it will allow you to add staff and services, increase your marketing efforts, buy new equipment, and open more locations. This is an ideal way to boost revenue without putting a chokehold on cash flow. How else would you bring your decadent cupcakes to the entire nation?LEARN MORE
This is it. You’ve reached the big time. You are a comfortable, stable, and thriving business. Your cupcake shop has become a household name—and a household craze. Still, your growth cannot stagnate. You must continue expanding your service offerings, developing new revenue streams, and maximizing company value. This is the perfect time to add more locations overseas and finally develop “The Cupcake ATM,” an additional profit center that will make you money even when your shops are closed. It’s also the perfect time to start organizing the business for your eventual exit, no matter how far into the future. Whether you transfer ownership to the next generation or sell the business outright, you must be prepared.
Your thriving cupcake shops generate millions of dollars a year, that’s enough to make anyone’s head spin, but a Commercial Checking account can help keep it all straight. It will also facilitate in cutting costs and identifying hidden profit centers.LEARN MORE
Use a construction loan to build more cupcake shops from the ground up, expand small, existing buildings, and outfit a swath of your facilities with your new money maker: Cupcake ATMs.LEARN MORE
Prepare for a business exit by getting your personal finances in order, too. Grow, preserve (and eventually transfer) your assets with investment management services.LEARN MORE