“We Strive to Help Small Businesses Achieve Greatness” #SFSBW2016 Interview: U.S. Bank
#SFSBW2016 asked our sponsors to share insights, best practices, and examples of how they help small business owners flourish. Today we hear from U.S. Bank.
What is your company’s mission?
U.S. Bank’s purpose statement: We invest our hearts and minds to power human potential.
How does your organization support and engage the small business community?
Our goal is provide a better choice for every financial need that our clients may have, from business banking to home mortgage and investments to name a few. We are involved with many organizations that support small business in San Francisco and the Bay Area, including Opportunity Fund, Working Solutions, SF Made, the San Francisco Chamber of Commerce, Renaissance Entrepreneurship Center, Centro Community Partners. And we are one of the leading SBA lenders in the country.
What tools and resources has your organization created to help small businesses tap into new opportunities to reach new customers, increase their revenue, and grow their business?
We pride ourselves on getting things right the first time, providing a high level of financial expertise to our clients, and providing competitive pricing on our financial products and services U.S. Bank is a recognized leader in payment solutions systems.
What are the trends you see when you think about the small business marketplace, and how will these trends shape the future of small business?
We recently released our 2016 U.S. Bank Small Business Survey, and what we found is that business owners are confident in their own businesses, but less certain about the national economy. Business owners are waiting for “the other shoe to drop” in the economy, but time and clarity about who will be leading our country next year will go a long way in boosting confidence. In this presidential election year, healthcare costs and taxes are top of mind for business owners. The last time we surveyed small business owners in a presidential election year was 2012, and the top issues to small business owners at that time were healthcare/Medicare and unemployment.
Can you share one brief story about how your company is helping San Francisco businesses thrive?
Providing financial services to dental practices is one of U.S. Bank’s Business Banking specialties. We help dentists optimize their capital structure and financing arrangements through refinances, purchases of new equipment, and commercial real estate investments that will benefit their families after retirement.
What words of advice or wisdom would you like to share with small business owners?
The 2016 U.S. Bank Small Business Survey found that business owners are integrating social media and mobile technology into their business strategies. However, at the end of the day, the human touch is still important to them – 89 percent say they will do at least some of their banking in a physical branch in five years. U.S. Bank has both the technology and the bricks and mortar presence to serve all small business banking needs.