Join me, Ally Houghton, as I explore the often-neglected fortress of life insurance with experts Joe Scurio and Wayne Demers. Together, we dissect the intricacies of protecting your business's future and the livelihoods that depend on it. We kick off with a deep dive into the world of buy-sell agreements, revealing how these can be the lifeline for a business in navigating the stormy seas of an owner's untimely death. Joe offers an eye-opening perspective on the hurdles of loan procurement in such scenarios, while Wayne champions term life insurance as a beacon of strategic financial security.

Peering into the often-overlooked niche of small businesses, our conversation shifts to the pivotal role of business expense disability insurance and the lifelines it provides. I unveil the less talked about side of disability—how medical advancements have altered the landscape of work absences—underscoring the undeniable need for comprehensive insurance planning. We wade into the waters of loan approvals, emphasizing the importance of adequate coverage, and the role key person insurance plays in this delicate dance, particularly when SBA loans enter the picture.

Bringing our chat to a close, we reflect on the safeguarding power of early insurance planning. We unpack the myriad advantages of securing insurance sooner rather than later, considering the harsh realities that can befall those who wait. The conversation culminates with a focus on the ripple effects of offering group benefits, how these can be a magnet for top talent, and the profound impact they have on families during life's most unexpected moments. Our insights are more than just advice—they're a clarion call to entrepreneurs to fortify their legacies with the compassionate and strategic use of life insurance.

The TSB Money Matter Podcast is produced by The Savings Bank, a community bank headquartered in Wakefield, Massachusetts. The information presented is for informational purposes and should not be considered financial, legal or tax advice. Consult with a banker or financial advisor about your personal or business finances.

Member FDIC. Member DIF. Equal Housing Lender.

Visit us at www.tsbdirect.bank

Discover how to conquer the often-bewildering world of purchasing your first home with insights from Jeff D'Alessandro and Mario Giamei of the Savings Bank, whose First Time Homebuyers Program has been demystifying the process since 1993. With their expertise, we peel back the layers of securing a mortgage with terms that are refreshingly accessible—imagine nudging the door to homeownership open with just an 11% down payment and no PMI in sight. Our exchange brings to light how the bank's local, in-house lending practices don't just talk the talk but walk the walk, providing a level of personalized service that turns daunting into doable.

Join us as we discuss how the Savings Bank is challenging the status quo with its one-size-fits-all mortgage rate policy. Forget the industry standard of confusing risk-based pricing; Jeff and Mario explain how this approach levels the playing field and offers crystal clear transparency for every applicant. We also uncover the significance of in-person underwriting, a methodology that replaces cold, calculating algorithms with genuine human connection and understanding, embodying the true spirit of community banking.

In our final segment, we lay out the vital steps to securing a solid pre-approval in the competitive real estate arena. Armed with the right knowledge and documentation, Jeff and Mario illustrate how a potential homebuyer can transition from hopeful to homeowner with confidence. They emphasize the edge that a bank's pre-approval confers in the market, and why professional guidance is key in steering clear of the common pitfalls that can snag your journey to that dream home. Tune in and transform your aspirations into a concrete plan for success on your path to that coveted set of keys.

The TSB Money Matter Podcast is produced by The Savings Bank, a community bank headquartered in Wakefield, Massachusetts. The information presented is for informational purposes and should not be considered financial, legal or tax advice. Consult with a banker or financial advisor about your personal or business finances.

Member FDIC. Member DIF. Equal Housing Lender.

Visit us at www.tsbdirect.bank

Unlock the secrets to effective cash flow management with commercial lending mavens Ed Fitzgerald and Mike Rossetti, who join us to illuminate the often-overlooked art of leveraging business finances. Engage with a discussion that promises to transcend the mere numbers and delve into the strategic advantages of savvy loan utilization, from weathering the unpredictability of seasonal business cycles to securing a lifeline for unforeseen expenditures. We navigate the complexities of working capital, the lifeblood of daily operations, through the seasoned perspectives of Ed and Mike, offering you a masterclass in financial acumen designed for businesses big and small.

The episode unfurls an array of scenarios where the right type of loan could mean the difference between stagnation and growth, examining the unique requirements of industries that depend on equipment financing or real estate investments. Our dialogue also emphasizes the cornerstone of any successful loan process—the relationship with your lender—and provides insight into the documentation dance that often ensues. Through the lens of our guests' experience, we impart crucial advice and underscore the human element that can make commercial lending a less daunting journey, ultimately equipping you with the knowledge to solidify your business's financial footing with confidence.

The TSB Money Matter Podcast is produced by The Savings Bank, a community bank headquartered in Wakefield, Massachusetts. The information presented is for informational purposes and should not be considered financial, legal or tax advice. Consult with a banker or financial advisor about your personal or business finances.

Member FDIC. Member DIF. Equal Housing Lender.

Visit us at www.tsbdirect.bank