Local businesses are the lifeblood of cities like Hudson. From restaurants to construction companies to pet stores, they make the local economy run. They employ residents, create a vibrant downtown area, and provide vital resources for the community.
In the greater Twin Cities area, there are plenty of national brands offering convenience and bottom-of-the-barrel prices. Local businesses bring quality and the personal touch — you are doing business (and spending money) with neighbors you know, who are in it for the long haul. Local dollars also help to keep them going in the face of economic challenges and are re-invested into the communities where we live and work.
Local Bank for Local Businesses
For local business owners, everyday operations can be very complicated. You need all the help you can get when it comes to the financial challenges of running the business. Having a reliable banking partner is essential to overcoming those challenges, and it’s even better if that bank is a fellow local business (like First State Bank and Trust). A community bank understands the unique circumstances of the area, and have an investment in your success of the local community.
Local Business Banking Tools
The right bank can help you find the solutions your business needs for daily operations and long-term growth. Whether you’re just starting your business, or you have decades of experience in the community, the right resources can make your life much easier. Here are just a few of the products and services a local business like yours should be using:
Business Checking
Every business needs a place to keep their money and track their transactions. A versatile checking account is the heartbeat of any business, and it should include an online banking option so that you can see and manage all your activity. With low (or no) fees and an easy-to-use debit card, you can control some of the chaos of the business day.
Cash Management
Businesses are always moving money, and they need a service that makes that movement effortless. Electronic ACH transfers let you pay employees and vendors, collect payments, and reimburse expenses without waiting for paper checks to clear. If you do have checks, you can use remote deposit to scan them into your account without visiting the bank.
Business Savings
When your business’ money isn’t in use, it should still be working hard for you. A savings account lets you earn interest, boosting your bottom line without making a single sale. If you don’t need immediate access to your cash, you can also earn higher rates and guaranteed returns with a Certificate of Deposit.
Business Loans
Starting or growing a business takes a major investment of funds. Many businesses choose to borrow the money, whether it’s for commercial real estate, major equipment purchases, or a cash flow infusion. A bank that knows you will help you find exactly the right loan for your situation, with the right rate and term to let you pay it back on your schedule.
A Partner For Local Business
If your local business is looking for the right partner to help you navigate all your financial challenges, visit a nearby branch of First State Bank and Trust or get in touch with us today to find out more. We look forward to supporting the great businesses in our community!
Back to Blog