Running a small business is extremely difficult. Time management is one of the biggest challenges small business owners face, according to a survey by Guidant Financial. You’re handling technology, customer service, hiring and more, and it gets to be a lot. One way to lighten your load is to find a commercial banking partner who truly cares about your business success. A community bank in South Carolina can help partner with you and make managing your business’ financials a seamless, efficient process.
Here are a few commercial banking products that can truly add value to your business:
Business Checking and Savings
It’s easy to assume that a checking account is just a checking account. Business checking accounts are designed to handle the frequent transactions you need along with simple account management. For example, Arthur State Bank offers low account minimums and low fees along with online cash management. With a few clicks, you can learn exactly what’s going on with your business. It’s easy and efficient. You can also activate Ready Reserve, which ensures you’re not caught without funds when you need it.
Getting the funding you need to expand your business can be stressful. Business loans can help you fund small projects such as getting new office furniture or big projects, like expanding and opening a new location. Business lending offers reasonable interest rates and the capital you need when you need it.
Business Credit Cards
Business credit cards offer flexible payment options, which is critical when it comes to managing your cash flow and paying for the unexpected. They offer reasonable interest rates, low annual fees, and some even offer rewards. A business credit card may not always be the best funding option, but they come in handy when you’re in a tight spot.
At the end of a long day, the last thing you want to do is run to the bank. You can simplify your business life with remote deposit capture, which allows you to deposit checks from where you are. Remote deposit capture is a web-based solution that allows you to scan checks remotely and transmit the images to your bank. Often, your bank will provide a check scanner when you opt-in for this service. You can make deposits anytime with less risk to your business. It’s a win-win for everyone.
Online Banking and Cash Management
A good, business-oriented online cash management system allows you to handle essential business transactions with just a few clicks. You can easily:
- View account balances
- Transfer funds
- Make loan payments
- Submit payroll
- Debit customer accounts
- Set up ACH transactions
You can add users to your account, so you aren’t the only person handling your business’ financials, but you can also specify the level of access each user has. Your customers expect the best, and a business-friendly community bank in South Carolina can ensure you have every tool available to receive payments from customers, pay vendors, and handle your other business transactions.
Automated Clearing House (ACH) transactions can simplify your vendor and employee payments. ACH is one of the largest electronic transaction networks in the U.S., and they successfully process large volumes of payments every day. You can avoid the tedious process of manually handling paper checks and waiting to see if they clear or not; just process everything electronically. You can easily track the payments online and have an up-to-date picture of your business’ finances at any given moment.
Safe Deposit Boxes
Safe deposit boxes offer a secure way to store critical business documents, such as your insurance paperwork. Off-site storage keeps your valuables safe in case of a fire or another disaster. Banks offer a wide variety of sizes for a reasonable fee, and you can access your safe deposit box privately.
Stellar Customer Service
Although it’s intangible, good banking customer service is critical to your business. When you need help with your business finances, you can’t afford to wait or explain your situation over and over to a series of customer representatives.
As a community bank, Arthur State Bank offers outstanding customer service. We value our customers, and we strive to learn the needs and priorities of your business so we can help you determine the right products for your business and what you need to grow. At Arthur State Bank, you are more than just a number, you are our neighbor.
At Arthur State Bank, we see ourselves as partners in your business. Contact us today to learn more about our business banking products and services.