Tim Hunter - Fidelity Bank
Welcome to Owner Operated: Conversations with Small Business Millionaires.
This week, I spoke with Tim Hunter of Fidelity Bank, a fourth-generation-owned family business. Tim and I met through a mutual connection with Jed Byrne, who writes the Top 5 newsletter. We bonded over our mutual appreciation for small and blue-collar businesses, and I knew I had to get Tim on the show.
Listen to the show on Apple, Spotify, Google Podcasts or Stitcher. It will take a couple of days for the episode to be distributed to the different platforms, but you can always listen to the show immediately at jonahpollone.com/podcast.
In this episode, we covered:
- Why would you use a bank as a small business owner?
- How to interview lenders to find the best one for you
- Benefits of a community bank for a small business
- Will you be required to give a personal guarantee?
- The importance of doing business in a niche you understand
- Bank "quotas" on lending to specific types of industries
- Process and structure of a community bank
- Family time as a way to decompress
- The importance of having an inner circle of advisors
Lastly - I've gotten some amazing feedback on the show so far. I'm excited to continuing growing the podcast and delivering more content to you folks. I couldn't have done this without the support of Jeff Baxter and the MidStreet team. Thank you all!