TDJ Equity Funding Insiders Podcast

#28 Navigating Business Banking: Essential Tips for Success with Demetris Adekanmbi

A "How to Get Funding" Podcast Season 3 Episode 28

Banking might seem like a simple matter of opening an account and making deposits, but the reality for business owners is far more complex—and getting it wrong can cost you dearly. This eye-opening conversation with banking veteran Demetrius, who brings 24 years of experience across credit unions and traditional banks, reveals critical insights that could save your business from financial and legal headaches.

The most startling revelation? Many entrepreneurs unknowingly jeopardize their businesses by commingling personal and business funds. This common mistake doesn't just muddy your bookkeeping—it strips away the legal protections of your business structure, potentially exposing your personal assets to business lawsuits. Even worse, when seeking funding, lenders may disqualify substantial portions of your income if they can't clearly identify business transactions separate from personal ones.

Beyond protection concerns, choosing the right banking partner requires understanding your own business operations intimately. Does your business require international wire transfers? Will you need payroll services? Do you prefer digital banking or face-to-face relationships? Each bank offers different fee structures and services designed to attract specific types of businesses while discouraging others. As Demetrius reveals, these fees are often negotiable—something many business owners never realize.

Perhaps most valuable is understanding the strategic advantage of relationship banking. Regional banks and credit unions typically offer greater access to decision-makers who can provide quick answers and customized solutions. The right banking relationship can alert you to specialized programs based on your geography, industry, or business stage that you might otherwise never discover.

Ready to strengthen your business foundation with smarter banking? Explore our complete podcast library for more insider knowledge on securing funding and optimizing your business finances. Subscribe now and join our community of savvy entrepreneurs who understand that financial knowledge equals business power.

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If you need assistance in obtaining funding, email us at podcast@tdjequityfundinginsiders.net. Tell what the scope of funding is needed and the amount. A broker will contact you to discuss your funding needs. And remember, at TDJ Equity Funding, we do not force your funding needs into a lender's box but find a lender's box that fits you!

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