Small Business Banking

I have always enjoyed the local banking relationship. Funny thing was they always liked us too! They could always take care of what we needed. When they needed a good businessman/businesswoman on the Board of Directors, you know who they are going to look at. Several times other surveyors wondered how we got jobs and had them almost completed before they ever heard about them.

I think you will enjoy the local bank.

I use a small bank, great customer service. No issues what so ever. I call them or I can stop in to see them without taking a flight to the Philipines

Whether you are using a large or a small bank, get one with a nearby branch so you can go in and talk to a real person, rather than dealing with issues on the phone.

I use one of the larger banks, and I am by no means a "large" customer, but they are always ready to help when I walk in.

> I use a small bank, great customer service. No issues what so ever. I call them or I can stop in to see them without taking a flight to the Philipines

:good:

Local bank for me! Very happy with the service!

> Whether you are using a large or a small bank, get one with a nearby branch so you can go in and talk to a real person, rather than dealing with issues on the phone.
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> I use one of the larger banks, and I am by no means a "large" customer, but they are always ready to help when I walk in.

When you have several accounts with one large bank you realize quickly that there are several divisions, bank errors are not handled locally and the levels of bureaucracies that need to be navigated require an expediter. You would think that with the promotions done that they are actually genuine when they call out for small business partnerships. I visited 4 different branches of the largest Bank in the world and all I could think of was incompetence at the Branch level. I was once licensed with a series 6,7, 63 in addition to Life and Property and casualty and it's readily apparent to me that they are lacking in some of the basics. Moreover, my friend does his business with a Credit Union and if he has a problem he walks right in and sorts it out with the President, in my case I have to write a letter to a PO box in Texas after I speak to the guy in India.

The irony is I wanted to give them my money, I'm already into them for 2 mortgages, personal accounts and a business account. They recently screwed up on a payment issue and closed an account on me. When I called and explained how they screwed up, they launched an investigation and as soon as they figured out that it was their fault, they issued a thorough apology letter. After they issued the mea-culpa, they told me I had to write them a letter explaining why they should re-open my account. I asked why I should write a letter when they already admitted that they were at fault, I was told that it was simply procedure. I thought it was the stupidest thing I ever heard. I bet if I were dealing with a small local bank this wouldn't have gotten so far.

Ralph

X2 for local

Do most of my business at a credit union but my mortgage is with one of the large banks with horses in their logo. That reminds me I need to call the CU and see if they will finance my modular home yet.

That are advantages to both. Having been with a firm that originally started with a small local bank and then was asked by the president of the bank to sign everything over, and then switching to a larger bank (Key NA) with nothing but cooperation for the past 30 years. I am happy to have the resources available for the larger bank. As we all have, we are going through some tough economic times for the past couple of years, even though we have not been able to zero out our line of credit over the past couple of years, all interest payments have been paid on time. Normally this type accounts are supposed to be zeroed out for at least 30 days each year. The bank has not called the note and worked with us. They renewed our line of credit this year, although for a lower limit but at least the are working with us. I guess it really depends on the type of relationship and history you have with your bank, I think if you have a good credit rating and a long lasting relationship, even the larger banks will work with you.

Many smaller banks end up getting consolidated with or purchased by larger banks in the end.

My two cents worth.

Small banks, all the way. Didn't John Mellencamp's song have a line "I always bank in a small town." ? 😉

Just dropped some paperwork off at the bank on my way home to eat a sammich at lunch. It was a half mile outa my way.

Small banks, small town, small troubles...all day long.

Small Bank for us...they know my name when I walk in.