Dunkin’ Donuts officially opened on March 29, 2017, but MinnStar Bank N.A. worked with Dave Schooff and Oliver Schugel for nearly 18 months prior to make it a reality. “The process from start to finish had multiple steps and many layers. Our ability to work in and around those facets is one of MinnStar Bank’s strengths. It separates us from others,” says Mark Monson, Vice President, MinnStar Bank. “My relationship with Dave goes back a number of years and I think he understood that being a little creative was the key to getting this venture up and off the ground. He and Oliver trusted MinnStar to deliver and we did.” Learn more
Equifax Data Breach
Last week. Equifax, one of the nation’s three largest credit bureaus, disclosed that it was subject to a massive data breach – one of the worst in the nation’s history. By the company’s own admission, the breach affects as many as 143 million Americans or roughly half of the U.S. population. This constitutes a much larger share of Americans with a credit history.
According to the company’s press release, “(t)he information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers.” Not only are consumers at risk, but their banks are put at significant financial risk from harm caused by fraudulent loans taken out by cybercriminals. Learn more
Writing a Business Plan
A written plan for launching and operating your business is essential for success and should be the first step in your new venture. A well-written and prepared business plan should describe the business: its products or services, market, people and financing needs. Learn more
Meet the Banker
Tom has over 40 years in financial services and provides MinnStar Bank with policy direction for the loan portfolio of the bank. Tom also personally services a number of ag and commercial loan accounts.