Banking is an essential part of your day-to-day business operations. From daily deposits or withdrawals to business loans, your experience with a bank could positively or negatively affect your company’s success. When you work with a local bank instead of a national corporation, you get premium, personalized service that allows you more time to run your business the way you want. Here are some reasons why you should consider working with a local bank.
With less red tape and more local decision-making processes, you do not have to wait long to hear about your loan status or get deposits into your bank account. Faster access to your money can make a big difference in your cash flow and allow you to get the supplies, equipment, repairs, etc., that you might need sooner rather than later. This also means you will not have to interrupt your day-to-day operations to follow up and can keep your business running smoothly. Plus, most local banks offer the same online and mobile banking options you get from larger institutions.
Local community banks often have fewer and more transparent fees associated with their services than large national banks. The fewer fees you pay means more money in your business bank account!
Your banker might also be your daughter’s softball coach, a friendly face from church, or the trumpet player in the community band. Local banks often offer more personalized service, allowing your banker to get to know you and your needs and advocate for you when needed. This personalized service and relationship building develops trust and gives you peace of mind that you and your business are being taken care of in the best way possible.
It might seem obvious, but you are investing in the community by banking locally. You are helping employ your neighbors and are putting money right back into your community and other local businesses. When the local economy is thriving, so is your business. When big banks cannot help the small mom-and-pop shops, local banks rise to the occasion by supporting these businesses and securing the hometown economy.
First Independent Bank is proud to serve our local communities. We offer your business the banking services you need to succeed. Get in touch with one of our business bankers today to see the local bank difference!