By cindy1221 February 11, 2015
Thus particular branch has to worst customer service I have ever experienced at any bank. I will never patronize this bank again. ...read more
By Karlz August 08, 2013
Horrible, HORRIBLE customer service. File a claim and they take 4 days to get back to you. They're never in their office.. Their insurance never covers anything - even though the policy says they do... bunch of Fraudsters. If you want overpriced Insurance - and the worst customer service ever - get a policy here. ...read more
By Jgerald May 08, 2013
Had a problem was trying to get help on to accommodate our not for profit that has had an account with Jefferson Bank for years...the local manager, Linda Mueller, was not only not helpful at all, after getting frustrated that I was asking for help told me she didn't make the rules but just enforced them and maybe I should take the account somewhere else. So much for customer service.. ...read more
ClearPoint Credit Counseling Solutions (CCCS), a national nonprofit, has helped over a million clients to regain their financial foothold through personalized budget, credit and debt counseling. ...read more
By ClearPoint Credit Counseling Solutions March 26, 2015
There have been a lot of changes lately regarding your business. The government has some new programs and modifications to existing programs to help your small business to get through these tough economic times. Help for Businesses Changes to SBA Guarantees 7(a) loans:Up to $2 million. The purpose for the capital is broad (expansion, acquisitions, startups, franchises, equipment, and even partner buyouts). The amount that the SBA will guaranty has also been increased to 90%. This is an increase from 85% for loans less than $150,000, and 75% for loans greater than $150,000. The Guaranty still must not exceed $1,500,000.The guaranty on the SBA Express still remains at 50%.504 loans:Up to $12 million. The main focus is on construction, renovation, or purchase of commercial property. The fees on the 504 Loan Program have also been significantly decreased. The government eliminated the CDC Processing Fee and the Third Party Participation fees. Microloans:Up to $35,000. Typically for working capital needs—that is, cash to pay for short-term needs such as payroll and vendors. SBA Fees:The government will eliminate SBA fees you would normally pay your lender on 7(a) and 504 loans (to the extent of the guarantee). Generally, the fees will range from 2% to 3.7% on 7(a) loans and 1.5% for 504 loans. That means, for example, you could save $6,600 on a $200,000 7(a) loan and $3,000 on a 504 loan (assuming a 90% guarantee).Here are some of the changes to the Tax codes (Please consult your tax professional for how they apply to your business. If you are looking for a ney accountant I would be happy to refer you to a great one) Extension of bonus depreciation :Last year, Congress temporarily allowed business to recover the costs of capital expenditures made in 2008 faster than the ordinary depreciation schedule would allow by permitting these businesses to immediately write off 50% of the cost of depreciable property acquired in 2008 for use in the . The new law extends this temporary benefit for qualifying property purchased and placed into service in 2009. Extension of enhanced small business expensing (Section 179): In order to help small businesses quickly recover the cost of certain capital expenses, small business taxpayers may elect to write off the cost of this expense in the year of acquisition in lieu of recovering these costs over time through depreciation. Last year, Congress temporarily increased the amount that small businesses could write off for capital expenditures incurred in 2008 to $250,000 and increased the phase-out threshold for 2008 to $800,000. The new law extends these temporary increases for capital expenditures incurred in 2009. Expanded loss carryback of net operating losses for small businesses:Under pre-Act law, net operating losses (NOLs) may be carried back to the two years before the year that the loss arises and carried forward to each of the succeeding twenty years after the year that the loss arises. For 2008, the new law extends the maximum NOL carryback period from two years to five years for small businesses with gross receipts of $15 million or less. Incentives to hire unemployed veterans and disconnected youth:Businesses are allowed to claim a work opportunity tax credit equal to 40% of the first $6,000 of wages paid to employees of one of nine targeted groups. The new law expands the work opportunity tax credit to include two new targeted groups: (1) unemployed veterans; and (2) disconnected youth. Individuals qualify as unemployed veterans if they were discharged or released from active duty from the Armed Forces during 2008, 2009 or 2010 and received unemployment compensation for more than four weeks during the year before being hired. Individuals qualify as disconnected youths if they are between the ages of 16 and 25 and have not been regularly employed or attended school in the past 6 months. Extension of monetization of accumulated AMT and R&D; credits in lieu of bonus depreciation:The new law extends the provision contained in the Foreclosure Prevention Act of 2008 and allows AMT and loss taxpayers in 2009 to receive 20% of the value of their old AMT or research and development (R&D) credits to the extent such taxpayers invest in assets that qualify for bonus depreciation. Delayed recognition of certain cancellation of debt income:To benefit certain businesses that buy their own debt at a discount, the new law lets the businesses recognize cancellation of debt income ("CODI") over 10 years (defer tax on CODI for the first four or five years and recognize this income ratably over the following five tax years) for specified types of business debt repurchased by the business in 2009 or 2010. Qualified small business stock:The new law increases the exclusion for gain from the sale of certain small business stock held for more than five years from 50% to 75% for stock issued after the enactment date and before 2011. S Corp. holding period:The new law temporarily shortens the holding period of assets subject to the built-in gains tax from 10 years to seven years. Repeal of IRS's built-in loss rules:The new law provides a prospective repeal of Notice 2008-83, the controversial IRS guidance which provided that if a bank recognizes a loss from the disposition of a loan or takes a bad debt deduction under the specific charge-off or reserve methods of accounting after a change in ownership, that loss or deduction will not be treated as a built in loss attributable to the pre-acquisition period. For any information on any of the new Government programs or existing ones or for an appointment feel free to give me a call at (314) 746-5722 or via email atStephen.Grelle@CommerceBank.com. Thank You, Steve Grelle ...read more
By Commerce Bank N.A. - Small Business Banking Department March 23, 2009
Hello. I am Stephen Grelle and I am a Small Business Banker for Commerce Bank. I am happy to answer any banking questions that you may have from financing, to general product questions. It is ok to remain anonymous. I am not doing this to try to sell you anything it is simply a service. Feel free to send me a message or give me a call at (314) 746-5722. Thank You. ...read more
By Commerce Bank N.A. - Small Business Banking Department June 18, 2008
When the economy tanked in the early 2000s most people began to worry about the state of their bank's health. At the present time, however, banks are beginning to stabilize and hire more workers as they iron out the remaining wrinkles in their business. Those interested in banking should have a wide r... ...read more
Banks and credit unions have been in the news a lot lately for many reasons. This has led many people to wonder if there are any difference between a bank and a credit union and have started to compare banks with credit unions. The two has similarities, but then they also have many differences as well... ...read more
