News

The Right Fit: Your Banker, Your Bank, and Your Small Business

november-2016-bank-post

Maybe it isn’t exactly like the Dating Game, but finding the right bank for your small business is pretty similar to finding the right match in your personal life.

 

In both, relationship is key. Is your banker willing to learn more about your business than just the financials? Will she visit? Meet your employees? Understand your customers? Possibly introduce you to her contacts?

 

Will the bank you’ve identified as a potential partner offer the range of services your business needs today…and tomorrow?

 

Most likely, these are services beyond traditional checking and savings accounts such as:

  • Lines of credit, fee waivers, business debit cards, and/or loans to meet your specific inventory, capital, or cashflow needs
  • Online banking, mobile and/or merchant services, Remote Deposit Capture, and/or gift cards
  • After hours deposits, low or no-fee available cash for registers
  • International deposits, accessibility in other geographies

Banking relationships are important to Northern Initiatives, too. We may partner with banks for customers’ funding needs and we often receive referrals from banks for entrepreneurs who need funding, but aren’t candidates for traditional loans. [Click here to learn more about business loans through Northern Initiatives.] Over time, as customers gain success, they are better positioned for bank loans.

 

Selecting the right banking partner can have a significant impact on your success. Want more information about how to choose and how the right bank can help you manage your small business?  Watch the Small Business video presented by Northern Initiatives on this topic, below. The choice could be more important than you realize.

 

More News Stories

After we sent a press release about the cuts to the Minority Business Development Agency and the funds we were using to provide integral assistance…
Read More
News Release For Immediate Release April 28, 2025 Socially and economically disadvantaged Michigan-based entrepreneurs and small businesses to be hurt by federal cuts Nearly $2…
Read More
Gene and Patty Hansen first opened Traverse City Guitar Co. “basically in a closet” and needed some money to stock the (tiny) shelves. It was…
Read More