Business Banking

• No minimum balance
• $100.oo opening deposit
• $12.00 monthly service fee
• Activity charges: $0.25 per deposit; $0.15 per debit/check; $0.10 per check deposited
• Earnings credit applied towards service fee and activity charges
• Uncollected funds usage charge set at the highest Wall Street Journal Prime Rate + 2% (adjusted daily)
• Free monthly e-statement with check images ($6.95 per month for paper statement)

• $500.00 minimum balance
• $100.00 opening deposit
• 25 free deposits per month ($0.25 per deposit over 25)
• 50 free debits/checks per month ($0.25 per debit/check over 50)
• 50 free credits/checks deposited per month ($0.25 per credit/check over 50)
• $10.00 service fee per month if the minimum balance is not maintained any day of the month
• Free monthly e-statement with check images ($6.95 per month for paper statement)

• $500.00 minimum balance to earn interest
• $100.00 opening deposit
• $500.00 minimum balance or $5,000.00 combined balance of additional non-profit accounts ($5.00 service fee per month if minimum balance or combined balance is not maintained any day of the month and $0.35 per debit fee over 10 debits/checks per month)
• Tiered interest rates
• Interest compounded daily and paid monthly
• Free monthly e-statement with check images ($6.95 per month for paper statement)
• For current rate information, please call an office near you

Business Banking Summary – PDF

• $200 minimum balance to earn interest
• $200 opening deposit
• $200 minimum balance ($9.00 service fee per quarter if minimum balance is not maintained any day of the quarter)
• Nine free debits per quarter with no more than six per month ($0.50 per debit fee thereafter)*
• Interest compounded daily and paid quarterly
• Free quarterly e-statement ($6.95 per quarter for paper statement)

*Federal regulation restricts the number of telephone transfers, online banking transfers, checks, debit card transactions and preauthorized transfers on all savings accounts and money market accounts to six (6) per month, but unlimited transfers and/or withdrawals are allowed if done in person, by mail, at an ATM or for loan payments at our bank.

• $2,500.00 minimum balance to earn interest
• $2,500.00 opening deposit
• $2,500.00 minimum balance ($13.00 service fee per month if minimum balance is not maintained any day of the month)
• Three debits/checks per month plus three transfers per month ($0.35 per debit fee thereafter)*
• Tiered interest rates
• Interest compounded daily and paid monthly
• Free monthly e-statement ($6.95 per month per paper statement)

*Federal regulation restricts the number of telephone transfers, online banking transfers, checks, debit card transactions and preauthorized transfers on all savings accounts and money market accounts to six (6) per month, but unlimited transfers and/or withdrawals are allowed if done in person, by mail, at an ATM or for loan payments at our Bank.

Business Banking Summary PDF

The Small Business Administration (SBA) offers a variety of lending opportunities for small business practice loans.

SBA 7(a) -Loan terms and rates vary based on the type of loan. But on average, loans are available for up to $5 million dollars, with a maximum SBA guarantee of 85 percent for loans up to $150,000 and 75 percent for loans greater than that.

Utilizing the SBA 7(a) loan will keep your rates within the SBA-approved range. However, loan rates will vary based on the total amount and repayment period.

The SBA 7(a) Loan Program lets you get loan amounts (up to $5 million) to fund startup costs, buy equipment and more. The program offers the most flexible and longest-term loans and may be used for everything from start-up and real estate to working capital and equipment.

Here’s what else you can do with SBA 7(a) funds:
Purchase new land (including construction costs);
Repair existing capital;
Purchase or expand an existing business;
Refinance existing debt;
Purchase machinery, furniture, fixtures, supplies or materials

If you’re looking to expand or modernize your small business, the SBA 504 Loan Program may be a viable option. The program is designed to help small businesses grow; funds can be used to make purchases for real estate and equipment. It provides long-term financing with low down payment options.

SBA 504 Loan funds can be used to:

Purchase land;
Purchase existing buildings;
Purchase long-term machinery and equipment;
Purchase improvements (including grading, street improvements, utilities, parking lots and landscaping);
Build new facilities or modernize, renovate or convert existing facilities.

The SBA 504 loan cannot be used for:

Working capital or inventory;
Consolidating, repaying or refinancing debt (although for a portion of the project, you may refinance debt associated with buying or renovating equipment or facilities); or
Speculation or investment in rental real estate property.

Provides working capital lines of credit for manufacturing, wholesale, services, and retail businesses. May be used to finance inventory, accounts receivable and more.

10 Steps to Start Your Business

Plan Your Business

Launch Your Business

Manage Your Business

Grow Your Business

SBA Business Learning Center 

Are You Ready to Talk SBA?

Customer Profile:  BevSource

Customer Profile:  E & M Manufacturing

The following is a list of information typically required during the loan process:

• Personal & Business Federal Tax Returns – for the last 3 years with all supporting schedules (Required on all guarantors and/or all individuals who own 20% or more of the business)
• If the loan is for an existing business – Year-to-Date Balance sheet and Profit & Loss statement are required. (Must be dated within 90 days of application).
• 2-Year Projection of Earnings – (required if less than 3 years of historical statements are available)
• Accounts Receivable and Accounts Payable Aging Reports –may be asked at the banks discretion depending on use of proceeds and collateral offered
• If any owner/borrower has a controlling interest in another business, 3 years of financial information must be submitted on each affiliate entity
• For a Franchise purchase include Uniform Franchise Offering Circular (UFOC)
• Purchase Agreement (applies only to acquisitions or real estate purchases)
• For a list of specific information/application needed, talk to a lender