Diane Romo, Assistant Vice President Personal Banker | SouthStar Bank Round Rock
Diane Romo is an Assistant Vice President Personal Banker at the SouthStar Bank Round Rock branch. Diane has been with South Star Bank since the Round Rock branch opened eight years ago and holds 14 years of total banking experience. She has been known for her excellent customer service skills throughout her banking career.
Diane enjoys the work-life balance that her position offers. It allows her to pursue her passions outside work and maintain a healthy lifestyle. Diane values her family very highly and works around everyone’s busy schedules to spend as much time with them as possible. One interesting fact about Diane is that she loves math, which has helped enforce her stellar banking career.
Anthony Albino has been promoted to Branch Manager of the SouthStar Bank Round Rock branch. In his new role, Anthony will oversee the branch’s operations, manage resources and staff, develop and attain goals, deliver quality customer service, and continue growing the location’s revenue. Anthony holds a Business Management degree from Texas College and five years of banking experience, including a year at SouthStar Bank, where he thrived in his previous Personal Banker role. He is most excited about the opportunity to grow within the organization and welcome new customers to the SouthStar Bank family!
Outside of work, Anthony enjoys watching his favorite sports teams, the San Francisco 49ers and the Denver Nuggets, and making homemade pickles. He looks forward to using his new position as a platform to become involved in the Round Rock community.
Scott Mainard, Vice President of Lending | SouthStar Bank
Scott Mainard joins SouthStar Bank Franklin as a Vice President of Lending. Scott brings a wealth of knowledge and experience, holding three decades of experience in the industry, an economics degree from the University of Houston, and additional schooling from the American Institute of Banking and Wisconsin Bankers Association. Scott’s background has allowed him to develop specialized knowledge across a variety of areas of lending, including consumer, residential, securities-based, and business lending. He enjoys leveraging his experience to create loan packages that work for his customers. Along with his lending career, Scott has also built three different private banking start-up platforms. By joining the SouthStar Bank team, he is most looking forward to working for a community bank with a lengthy, outstanding history of Texas roots.
A Cypress, Texas native, Scott recently moved back to Texas after a 25-year stay in Wisconsin. Outside work, Scott enjoys playing golf, fishing, cooking, and watching sports, no matter what teams are playing. He has been with his wife for over 30 years, and their daughter is set to graduate from Texas A&M in December.
Bridget Brosh has been promoted to Branch Manager of the SouthStar Bank Moulton branch. As Branch Manager, Bridget will see increased responsibility that includes budgeting, forecasting, and planning to meet the needs of her customers while also maintaining her complex role as IRA Coordinator. Bridget holds four and a half years of experience in the banking industry, all of which were spent with SouthStar Bank. During this time, she has consistently thrived and has grown from her initial role as a Personal Banker to IRA Coordinator and now to Branch Manager.
Bridget is looking forward to expanding her knowledge in banking operations as a Branch Manager. She plans to hone her ability to find creative solutions to unique challenges and is eager to continue building relationships with her customers and the community.
Outside of work, Bridget is active in the community and as a member of the Moulton PTO and the Moulton Booster Club. When she finds time to herself, she enjoys spending time outdoors, gardening, and making memories with family and friends.
Small business loans support business owners when they are establishing, growing, or managing their enterprises. The U.S. Small Business Administration (SBA) estimates that there are 32.5 million small enterprises nationwide, making up a sizable portion of the American economy. Even while each one is different; they all have one thing in common: they all require business funding.
Funding for small enterprises that are underfunded
Many funding options are available for historically underprivileged firms, including those run by women, veterans, Black, Asian, Latino, and Native American business owners.
Financing for women’s businesses
Women who own their own enterprises are eligible to apply for grants or debt financing. The growth of women-owned firms has outpaced that of all American businesses in recent years. However, when women are given business loans, the average yearly loan amount is around 33% smaller than it is for males.
Financing for minorities’ businesses
Business grants and loans are options for capital for business entrepreneurs of color. Those who live in historically underrepresented communities confront more funding-related entrepreneurial challenges than their peers. Funds are allocated by institutions and lenders all around the United States to help minority-owned enterprises.
Financing for veterans’ businesses
Small business owners with a history of military service also have access to a variety of services and funding choices. Many veterans find it difficult to apply their military experience to civilian professions after leaving the service, so some opt to launch their own businesses instead. Veterans’ business loans are one of the secrets to success.
Obtaining a small business loan
Depending on the kind of business loan you’re looking for, the application process for small business loans varies. Equipment financing normally requires less paperwork than a business line of credit, while short-term loans typically have less paperwork than long-term loans. To increase your chances of approval, it’s still a good idea to have the following documents on hand in case they are required:
Checklist for applications for small business loans
Once you’ve decided that your business is capable of handling a loan, you should start gathering the appropriate paperwork for your loan application. Although the specific paperwork varies depending on the finance partner, it almost certainly consists of the following:
Personal and company tax returns spanning two to three years
most recent profit and loss report
historical bank statements
contemporary balance sheet
legal documents pertaining to ownership
details about outstanding debt
business permit (if applicable)
business strategy
REMOVE THESE USUAL SMALL BUSINESS LOAN MISCONCEPTIONS
Applicants that are rejected frequently commit the error of submitting financial documentation and company plans that are insufficient or poorly thought out. When requesting a small businessloan, it’s critical to gather as much prepared information as you can.
SHUT OFF YOUR LOAN
After approval, the closing procedure is going over the paperwork that will decide the conditions of the loan you’ve chosen. Your interest rate and payback plan will be set down in a legally enforceable agreement called a business loan contract. Make sure you comprehend what the lender is asking of you and how these conditions will affect the financial viability of your company. All of the terms of the contract, including what happens if you make late payments or default, are accepted once you have signed.
What do small business lenders look for?
Lenders for small businesses are interested in learning how stable your business and credit history are. In order to assess your risk as a borrower, they will consider a number of different debt, asset, credit, and operational criteria.
TIME IN BUSINESS
A business that has been operating for a while is typically more stable than a startup. This is crucial for lenders since a company with steady sales over the previous two years is a more appealing borrower than one with erratic revenue over the previous six months.
CREDIT SCORE
A startup is typically less stable than a company that has been operating for a few years. This is important for lenders since a company that has a track record of consistent revenue over the past two years is a more appealing borrower than one with erratic income over the previous six months.
CASH FLOW
A cash-flow projection outlines when money is brought in, when it is spent and how much is left over. Lenders prefer it when borrowers.
COLLATERAL
If you are unable to make payments, creditors may legally seize collateral, such as office space, machinery, and accounts receivable. Some business owners opt to use their personal assets, such as their homes, as security for a loan for their company.
DEBT-TO-EQUITY RATIO
The debt-to-equity ratio of your business is the ratio of debt to shareholders’ equity. Based on the debt you are already paying; this measure helps a lender determine how likely you are to be able to pay off new debt.
WORKING CAPITAL
Your company’s working capital is the cash you have on hand to support regular business activities. By deducting current assets that can be converted into cash from the business’s debt obligations due within a year, you can determine your working capital.
As long as you have an account with SouthStar Bank then you are eligible for online banking. Using a computer or smartphone with Internet access, getting started is simple.
1. Before enrolling in Online Banking, you will need your account number, the type of account, social security number, zip code on file with us, and email address on file with us.
2. Click here to get started. Alternatively, you can type southstarbank.com into your web browser, then click the E-Banking tab and select Login from the dropdown menu. Next, click the picture above where it says, “Online Banking Login” and click the Enroll now link (below the Login button). *Please note that you must enroll in online banking through the web browser before you can login through the mobile app.
What can be done online or with the mobile banking app?
The majority of transactions can be completed online or via SouthStar Bank’s mobile app. Benefits of using online banking include:
Access to SouthStar Bank’s CardManager app is available for you once you are enrolled in online banking. To get the CardManager app, search for the SouthStar Bank Card Manager in your phone’s app store and then click the install button to install the app. CardManager helps you protect your debit cards by sending transaction alerts and giving you the ability to define when, where and how your cards are used. Simply download the CardManager app to your smartphone, then customize your alert preferences and usage settings to monitor and manage your cards. Other perks include being able to remotely manage your and monitor your child’s spending and locating ATMs worldwide.
Monthly eStatements are available within online banking via the web browser. By using eStatements you reduce paper consumption, decrease your likelihood of identity theft, online access to your monthly statements, and more.
Instant balance checks. The time of waiting for your paper statement to reveal issues like unauthorized activity is long gone.
Have an issue with your account? Use the chat, online, or mobile banking services to report errors to your bank account.
The status of pending deposits and charges, or those that have not yet been reflected in your account, is frequently displayed. Please be advised that the amounts you see for pending debit card transactions can differ from the total that actually posts to your account. Before presuming that pending deposits are available for payments or withdrawals, carefully review the funds availability policy of your bank or credit union.
The SouthStar Bank mobile app also allows you to deposit checks into your account via the mobile deposit feature. The mobile app streamlines the check deposit process and just needs a few steps:
1. If you haven’t done so before, download the SouthStar Bank mobile app
a. Open your phone’s app store and search for “SouthStar Bank Mobile” – you will see the SouthStar Bank logo next to the app. Next, install the app. Once the app is installed you can open it and login with your online banking credentials.
2. Follow the guidelines in the mobile app to deposit the check.
a. At the bottom of the mobile app, click the Deposit tab.
b. Next, click where it says “Deposit a check”.
c. Select which account you want the check deposited into. (Use the dropdown arrow and then click on the correct account.)
d. Type in the amount of the check by clicking where it says “Check amount”.
e. Click the “TAKE PHOTOS” button.
f. Before taking your photos, make sure there is ample light and the check is placed on a solid, dark-colored surface. Also flatten the check all the way if it is not already flat.
g. Align the check with the box, hold steady, and then tap the capture button.
h. If the picture was captured clearly, tap the “USE” button. Otherwise, tap the “RETAKE” button and try again.
i. Repeat the above process with a picture of the back of the check. (Make sure the payee name is on the endorsement, you have signed the check, and it states “for mobile deposit at SouthStar only”.
j. Lastly, click the “MAKE DEPOSIT” button.
k. To check the status of your mobile deposit, click the Deposit tab at the bottom of the app, and then click where it says, “View mobile deposit history”. There are three tabs you can click on to see if your mobile deposit has been accepted, or if it is still pending review, or if it has failed. Please note that mobile deposits are posted to your account during business hours, and once the deposit has been accepted, there is a lag time before it posts to your account.
3. Once the check has been deposited, keep it in your possession for a few days to make sure it has posted to your account, meaning it is no longer outstanding and any holds your institution may have imposed have been lifted.
4. After the check has been cashed, shred, cut, or otherwise eliminate it.
If you need to transfer money between accounts or even financial organizations, your online banking or mobile app definitely offers options to do so. Make sure you are using the correct account and routing numbers and that you are aware of all the conditions and restrictions before making any transfers.
SouthStar Bank also offers the option to transfer money to another person through Zelle.
Online banking and utilizing a mobile device are secure as long as you follow best practices for securing the data on your device. SouthStar Bank can provide you further services, such as disabling your debit card, if you suspect fraud. To find out more about any additional protections your bank or credit union may provide, contact your local SouthStar Bank representative.
