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Goons, I am currently faced with a personally depressing, and complicated matter. I have been an owner, and CFO of an "age restricted content" site (which means there is no penetration or sex acts, just nude photography- pin up basically) for eight years now. Since the inception of this company, I have banked with a local credit union; Fairwinds Credit Union here in Florida. A few days ago, we went in to inquire about applying for a line of credit to self-publish our second book, after selling out of our first volume. Filling everything out went fine on the branch side, credit was good, finances strong, and no problems. After we hadn't heard back in the time the branch manager said we would, we gave her a call and she informed us that we were denied because they refuse to do business with the adult industry. We have always been transparent with the bank about who we are, and what we do. Banking with them for almost ten years, we have never had anyone act cross about it, or question it. They have had our website address, we are fully licensed, and have strong, consistent deposit history. We pressed the matter with higher management, who seemed sympathetic to our plight and told us he would be in touch. We received the call from him today, and he said that they are closing our business account of almost ten years and we have 30 days to remove our funds and find a new bank. Outrage aside, my problem is I can't seem to find a bank even willing to open an account now. I have talked to every bank in town and the only one who would entertain me even for a minute was Wells Fargo, but they are getting slower and slower about answering my questions which does not instill me with a lot of confidence in them. I know there are goons who work in the adult industry- where do you bank?
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Jun 25, 2015 23:03
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| # ? Apr 26, 2024 09:56 |
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I don't know anything about that but I cross-quoted you in the old "I'm a pornographer" thread so maybe take a spin through there and find people who are in the industry to PM directly? Good luck 
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Jun 25, 2015 23:28
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I own a couple publishing companies, one that specializes in adult content, though not ones with much of a visual element. What exactly are you trying to self publish that requires a line of ccredit? Are you sending out a magazine or other publication, or are you concentrating on digital content? I can be PMed if this is sensitive. CCan't help you with your banking issues at all, wish you lluck.
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Jun 26, 2015 00:55
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I've worked as a producer in the industry for 15 years. First, I don't go into detail with any bank on what I do. Most banks are not going to want to do business with anyone in certain industries and porn is one of them. That is simply a fact of life. While banks might turn a blind eye to you just having a business account with them, getting a loan for anything adult related is an entirely different story. My advice is don't go into any sort of detail on what the subject matter is. If you are just writing books and not in the actual production of porn, then just keep the focus on your a book company or a self help company. Stay away from Chase. They are notorious for not wanting to do business with anything adult related. Your best bet is probably Bank of America or Wells Fargo.
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Jun 26, 2015 03:33
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You might also consider a bank like Bank of Internet (lol, I know) or some other smaller online banks who may not care as much.
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Jun 26, 2015 04:48
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How about moving your banking to a real country?
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Jun 26, 2015 09:58
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I don't think I can help with your issue, but funny enough my wife is a loan officer at Fairwinds, what branch are you dealing with?
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Jun 26, 2015 14:15
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We were working with the Winter Springs branch, with Kara, and then to Jonathan the VP. I have another meeting with Wells Fargo today and will see how it goes. I will look into internet banking (unfortunately Ally doesn't do business accounts), so thanks for letting me know Bank of the Internet (lol) is not the worlds shadiest thing it sounds like.
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Jun 26, 2015 14:37
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Look at the Canadian banks that do business in Florida, RBC, CIBC, BMO Harris. and Scotiabank if any of them are in your area. They will not refuse to do business with you and if you do you can complain to the Canadian head office who will overrule the local office as our banks are much more strictly regulated.
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Jun 26, 2015 16:22
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wells fargo
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Jun 26, 2015 18:12
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Just file a registration for a shell company and transact business through it - problem solved. This is Florida; that can be done really easily.
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Jun 26, 2015 22:06
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| # ? Apr 26, 2024 09:56 |
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If you were so successful with the first book, and you've got a financially strong business, why are you financing a print book? You could try kickstarting with these guys - NWS - http://offbeatr.com/.
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Jul 7, 2015 23:30
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