In a world moving online, many are looking for digital banking solutions that address all their needs. Luckily, A. Donahue Baker, CEO of Money Avenue, LLC the Fintech Bank, has built his business model around supporting customers virtually with wealth-building services in a way that helps to create more entrepreneurs and real estate developers.
A digital bank, such as Money Avenue, allows customers to have access to banking that is faster, cheaper, and more convenient than traditional banking. For example, customers have access to personal loans up to $10,000 in as little as 3 hours, while avoiding the fees many traditional banks will nickel and dime their customers with.
Donahue was motivated not only by wanting to provide easier banking for customers, but also to provide banking services to many underserved communities in need.
After working as a CPA for over a decade, Donahue realised that having access to capital is one of the key tools to creating generational wealth. He felt the need to help make a difference for his community, and other communities that were underserved.
Donahue’s experience and success has led to Money Avenue being the 9th fastest growing Fintech in the country – growth that has all happened organically through word of mouth. Money Avenue has been able to find success through differentiating themselves from the competition by truly being a one-stop shop for online banking.
The successes found through Money Avenue have brought other entrepreneurs to Donahue for business advice. Donahue suggests that budding entrepreneurs plan to create a business that can scale rapidly with the aid of technology. By setting up structures that can prove the business concept without jeopardizing personal credit or the security of entrepreneurs’ families, it’s possible to use the business credit structure to take business risk so budding entrepreneurs can think more like entrepreneurs in their daily lives.
Within the next year, Money Avenue’s biggest projects are offering banking services that create more businesses and real estate development in their communities. Along with their partners, Money Avenue is proud to be investing $500 million in minority projects this year. In addition, Money Avenue will be offering digital banking services that include high interest savings and checking accounts, residential & business lending, and insurance products with the aim of creating more entrepreneurs and helping everyday people to build long term wealth.
Interested in learning more about Money Avenue and all they could offer you with online banking? Check them out at their website.