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You never know when disaster may strike or what that disaster may be. The best thing you can do is to be prepared by having plans in place for how to respond in case of an emergency or disaster. Since disasters can take many forms, it’s good practice to have a couple of contingency plans ready. Here are 7 considerations when creating your emergency business plan: Assess the risks Each business is vulnerable to a different risk. Depending on your industry and location, the...

Your business needs a steady cash inflow for daily operations and the potential for future growth. Part of the cash management process includes establishing an efficient method of collecting and monitoring your accounts receivable, which will help to minimize your borrowing costs. Accounts receivable is the amount of money your customers owe you after purchasing your goods and services on credit. Here are 6 practices for effectively managing your accounts receivable: Create a...

It’s Important To Learn About Managing Your Money While In College It might not be a class you take, but one of the most important things you can learn in college is how to manage money. That’s because many students don’t earn a lot while in school and they have to live off their student loans and money they might make with a job. It’s not easy to do but it’s a lesson you can fall back on the rest of your life. Think about the costs: Tuition, books, a place to live,...

Is it easy to do business with you? Customers now have more payment options than ever before. As consumer buying habits change, so do their payment preferences. For small business owners, it’s important to keep up with these changing trends and preferences to ensure you’re making it easy for customers to pay you for your products or services. Here’s a look at how choosing the right payment acceptance options affects your business, the common types of payment options, and how to...

As Franklin D. Roosevelt said, “those who have long enjoyed such privileges as we enjoy forget in time that men have died to win them.” It often seems that the true meaning of Memorial Day gets lost amidst the excitement of a three-day weekend. Somewhere between families packing up their cars in pursuit of sunny beach days and businesses filling up our inboxes with emails warning us ‘Don’t miss out on this Memorial Day sale’, we forget to pause and reflect on what this day...

For any business, having a positive cash flow is necessary for long-term success. You need funds for your business's daily operations, including buying supplies, paying salaries and rent, and purchasing new equipment or inventory. When more funds are moving into your business than out of your business, this signifies a healthy cash flow. However, as many business owners know, this can be tough to manage. A good cash flow increases opportunities for your business, such as the chance for...

The power of technology and the Internet have led us to a digitally connected world where most people are always online. With a change in consumer buying habits and expectations, now more than ever, it’s important for businesses to have an online presence. When a consumer decides they want or need a product or service, they search the Internet to find a business. For small businesses, this is an opportunity to meet those customers in the digital channels they visit daily. Consider...

Economic Impact Payments Colony Bank is #RightHereWithYou to help you navigate through these uncertain times. Nothing is more important than your health, safety and financial security. That's why we want to share with you a significant update concerning the Coronavirus Aid, Relief and Economic Security Act, commonly referred to as the CARES Act. What to Know About the CARES Economic Relief Payment As you may have heard, the United States 116th Congress approved, and President Trump...

Like you, we’re monitoring the latest news about the Coronavirus. At Colony Bank, our team members, customers, and community welfare are important to us. That’s why we’re doing all we can to make sure our branches are open, our trusted bankers are there and our call centers are staffed. You can count on us during times like this, especially if you need our help. Here are some proactive steps Colony Bank is taking to keep team members and customers safe. We’ve ensured...

Welcome to Colony.Bank! We’re so excited to launch our brand new website and to share an even better online experience with you. We hope that you enjoy our new look, and if you have any questions let us know! We’re right here with you.