Credit card fraud can be costly to companies, but there are methods business owners can employ to limit their losses. It’s not a new problem, but most of the fraud now occurs in the e-commerce realm, rather than at the checkout counter. While so-called “chip cards” have mostly thwarted fraud in stores, identity theft and […]
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Thousands of small-business owners from the enormous Baby Boomer generation are —  or will soon be — faced with the prospect of selling their company as they move into retirement. Before heading to the golf course or to hang out with the grandkids, those business owners have much to consider,  especially if they’re going to […]
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Small-business owners often want assistance from outside sources, and while that may come in the form of education on the many aspects of operating a successful business, the foremost need is generally financial. Community banks, big banks and credit unions are the obvious places to seek additional capital for a company, but there are also […]
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A fast-growing business without much credit history can still access cash and spur further growth by selling its invoices to a factoring company. It’s not a new process, but it is new territory for Herring Bank, which is starting an Invoice Purchasing Program. Herring Bank Market President Aileen Berrios, who works out of the bank’s […]
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(Editor’s note: This is the second in a two-part series exploring banks and cryptocurrency.) Cryptocurrencies promise to disrupt and transform the financial system — a promise that grows as central banks around the world experiment with the idea of issuing their own cryptocurrencies. The Bank of England, the Bank of Canada,...
When President Donald Trump unveiled the broad framework for his proposed changes to the federal tax code, it raised more questions than it answered. Of course, it was simply the first step in what could be a lengthy congressional debate about the tax code. And Trump’s nine-page proposal — including the cover page — left […]
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Banks and credit unions have operated side by side for more than 80 years but — like neighbors who share a fence yet have different views and agendas — they don’t always get along.
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Avoiding debt, whether it’s in business or at home, always seems like the right idea. But in the business world, taking on debt might be smart in the current economic climate. “If you’ve got the stomach for the risk, debt right now is very attractive from an interest rate standpoint,” said Ben Harvey, owner of […]
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Rob Alexander isn’t worried about his legacy, but the Colorado Springs banker has likely enhanced the reputation he’ll eventually leave behind. The 54-year-old chairman and CEO of Stockmens Bank is merging his company with the larger but less successful First Home Bank of Mountain Grove, Mo. “The problem with little banks is they often don’t […]
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BKD, a national CPA and advisory firm with a presence in Colorado Springs, joined forces last week with the National Association of Manufacturers for a webinar to review new and proposed business tax regulations, as well as to compare reform proposals in the House of Representatives with those of President-elect Donald Trump. The webinar was […]
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When news of a financial scandal at Wells Fargo was made public last month, the implications seemed negative, but not dire. But ongoing investigations and lawsuits against the company are beginning to paint a picture of the San Francisco-based bank as a company that fostered a culture of unethical — and sometimes illegal — activity. […]
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Bank of the San Juans will continue to grow its presence in Colorado Springs following its October purchase of Cañon National Bank, said President and CEO Art Chase. “We’d like to expand in Colorado Springs, whether through an acquisition or opening new branches,” he said. Based in Durango, Bank of the San Juans has a […]
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