Whether your small business is just starting up, expanding quickly or well-established, finding the right bank is important for keeping daily operations running smoothly. It takes a lot to manage a business, from handling customer transactions to having access to lines of credit.
When considering your options, there are a few factors to keep top of mind, including the types of financial products and services a bank offers and how they match your needs. Above all, you want a financial partner which takes your business seriously and provides the tools, insight and flexibility to help your business grow.
Here are things every business owner should look for in a bank, according to the experts at First Financial Bank.
1. Building a relationship
Every business is unique and has different needs. Your banker should get to know your business and ask questions about what you do and what your goals are. Many banks often overlook small businesses, but First Financial Bank focuses on building real relationships, providing personalized attention and learning about your company. This allows their team to offer more strategic insights and tools to improve efficiencies, reduce costs and help today’s small businesses to thrive.
2. Avoiding high fees
Business owners juggle a lot. Being aware of those challenges, First Financial Bank provides generous, business-friendly checking accounts with flexibility to match the many different ways a business may use the account. For starters, their business checking accounts have no monthly maintenance fee compared to up to $15 each month at other banks.
3. Allowing for flexibility
In working with everyday businesses, First Financial Bank knows having your own company involves a lot of moving pieces. Some businesses have fluctuating balances; others need to make frequent cash deposits. To keep business checking simple, they allow for unlimited transactions and unlimited cash deposits, where other banks may charge fees once you’ve exceeded your limit.
Some banks require up to a $2,000 minimum balance, which can be hard for some businesses to maintain when they’re just starting out or dealing with changing cash flow from month to month. First Financial Bank understands how businesses navigate the real world, so they have no minimum balance requirements.
4. Offering real-world solutions
Finding the right solution when a challenge arises is crucial for running a business smoothly. When it comes to banking solutions, business owners find a variety of First Financial Bank’s offerings and tools that help keep them going, such as mobile and online banking for on-the-go convenience. Other offerings and services such as business credit cards, free bill pay and mobile deposit help streamline day-to-day duties to ensure successful operation.
5. Having convenient locations
While most business owners rely on mobile and online banking, having easy access to ATMs for deposits and withdrawals, as well as brick-and-mortar financial centers when you need to speak to your banker directly saves time. When you need to go into the bank, location matters and First Financial Bank has plenty of financial centers conveniently located around the Midwest in Ohio, Kentucky, Indiana and Illinois.
6. Facilitating loans and lines of credit
When it comes to lending and financing, First Financial Bank has helped businesses of all sizes reach their goals through loans and lines of credit. They can help business owners identify the right type of loan to get to the next stage, such as their BizFlex line of credit, commercial construction loans, equipment loans or bridge financing options to deal with short-term or seasonal needs.
7. Streamlining cash flow
Depending on your business, the billing and payment process can be incredibly time-consuming without the right solutions in place — and you may be wasting time without even realizing it. First Financial Bank can help businesses streamline cash flow processes, from expanding the ways customers can pay to managing payroll and vendor payments. They can even offer solutions for putting idle funds to work.
Finding the right banking and lending solutions empowers businesses to grow and reach the next level. By combining personalized service with products and services designed around those real-world challenges and successes which businesses face, First Financial Bank is a valuable partner.
To learn more about business banking at First Financial Bank, go to https://www.bankatfirst.com.