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Is Your Digital Presence a Barrier to Bank Funding?

Is Your Digital Presence a Barrier to Bank Funding?

Bonnie was running a small, fairly successful retail shop in a destination location. She sold t-shirts, novelty souvenirs, bumper stickers – everything you’d want to remember your vacation. Her location was good, but not great. When a better location became available, Bonnie wanted to make the move, but she was going to need a loan to purchase the building.

After carefully going over her finances, Bonnie went to the bank. She was feeling pretty good about the whole thing: after all, she’d been in business for years, always turned a profit, and she wasn’t asking for a ton of money. But the bank said no. When she asked why, she was shocked to learn that that the bank didn’t think she had enough of an online presence to remain competitive in today’s marketplace. “Frankly, they said they thought my days were numbered. Without a great website, according to the bank, customers wouldn’t know how to find me or why they’d want to do business with me.”

This is not an isolated story. Banks and other financial institutions have become increasingly cautious when it comes to extending credit, even to established small businesses. If you want to expand, open a second location, purchase a large amount of inventory, or otherwise invest in your business, this can be a problem. Criteria that were once secondary – including how effective you are at marketing and promoting your business – are becoming deal breakers. This is proving to be true in both the B2B and B2C marketplace.

Before you go to the bank, it’s a good idea to do a digital inventory. Review your website, social media presence, and Google yourself using both your business name and key phrases a customer would use to search for your type of business to discover how your site is ranking. You also want to know what is being said about your business on popular review sites such as Yelp. Additionally, it’s important to know what apps are relevant to your industry & make note of your inclusion in them.

Doing this digital inventory may indicate areas where you want to spend a little time and energy making sure you have a positive image online. Just as you clean the house before company comes over, you want to make sure your digital presence reflects well on your business before you go asking for money. Remember, your banker is going to, at a minimum, Google your business and visit your website. If you don’t look good online, the chances are that you’re not going to look like an attractive investment opportunity for the bank.

Need help putting your best foot forward online?

Give us a call. We’ll help you showcase your strengths, attract more business, and present yourself as the viable investment opportunity that you are. It takes work to grow. We provide the coaching, guidance, and support to make that growth easier!

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Creative Director/Senior Designer

Tom DiGrazia

With over a decade and a half of professional design experience, Tom brings his knowledge of design principles and focus on user experience to every aspect of his contribution to TTG. Paying special attention to each client’s brand, personalized needs and individual interests, he strives to create compelling concepts utilizing intuitive and highly-refined design solutions. In addition to traditional and digital design work and oversight at TTG, Tom also boasts a wide portfolio of web development projects with the company, allowing him to stretch his CSS and HTML skills across multiple platforms and disciplines. He feels that being a designer in the digital landscape of websites, eCommerce solutions, email marketing platforms and social media, it is important to understand the code that goes into these areas as it assists his ability to tailor designs specifically targeted to achieve the best end result and further builds understanding and communication with backend development teams.

In his off hours, Tom is an avid pop culture enthusiast, staying up to date on the latest shows, films, comics and games. He can also typically be found taking part in a whole host of artistic activities that help him further stretch his creative legs. Regardless of the activity, Tom is always accompanied by his dog, Eli, and his cat, Tib.

Design, Photography, Illustration, Digital Imagery Manipulation, Wesbite Development

Photoshop, Illustrator, InDesign, Lightroom, HTML/CSS, Wordpress


Courtney Dumont

As Senior Marketing Strategist & Analyst at Technology Therapy Group, Courtney is energized by the ability to flex both her left and right brain daily. Courtney discovered her passion for Marketing at Bryant University, where she spearheaded research on students’ perceptions of Social Media Marketing for her Honors Capstone Project. After graduating Bryant in 2012, she joined the Technology Therapy team, where she’s honed her skills in social media, search and social advertising, email marketing, SEO, and more.

Since joining the team, Courtney has created digital marketing strategies and managed campaigns for clients across the country, ranging from plastic surgery centers, to jewelry stores, to construction companies. With a cohesive, cross-channel approach and a focus on data-driven decision making, she has increased their leads by up to 217%. But Courtney doesn’t leave her zeal for social media at the office; she also runs a local foodie Instagram account with her husband to document their meals across Rhode Island and beyond. Check them out: @hoppilyfed.

Marketing Strategy, Data Analysis, Google Ads, Facebook Ads, Social Media

Google Analytics, Google Ads, Facebook Ads, Facebook Creator Studio, Instagram, Klaviyo, Mailchimp, Emma Mail, Google Data Studio, WordPress, YouTube, LinkedIn, Facebook, Microsoft Office