Small Business Owner Checklist: How to Select the Best Bank as a Financial Partner

Whether you just opened the doors to your store, have an established small business, or run a large company, surrounding yourself with experts is a key to success. They can concentrate on a variety of operations to keep the business running smoothly while you can focus on what you do best.

A Partner You Can Trust

Since cash flow and finances are the lifeblood of any company, especially a small business, selecting the proper banking expert is not something to take lightly. You want to build relationships with more than the institution; you must build a bond with the financial pros who have your best interest at heart. This is one reason a community bank may be a good choice.

With headquarters in Englewood and branches throughout northern New Jersey, NVE Bank’s decision makers are located across town, not across the country. That means our customers have access to the people who can give them answers – quickly and efficiently – with a local point of view. We’re not just your bankers; we’re your neighbors. Our professionals have a solid grasp on the economic, geographic, and sociological climate of the communities we serve, enabling us to provide sound advice and ideal solutions for local businesses.

Products and Services to Consider

It is important that your banking partner has the proper mix of financial products and services to meet your business needs. A specialist can help you determine which are best for you now and in the future. Those that you should look for include:

Lending Solutions: Look for a banking partner that makes small business lending a priority. Considering the fact that you will likely have both short- and long-term financial needs, ask about the business loans and lines of credit they provide.

Overdraft Protection: Make sure your bank offers overdraft protection, so you are covered for those hopefully-rare occasions when cash flow is tight.

Business Retirement Plans: Small businesses can offer employees different retirement options, such as payroll deduction IRAs, or SEPs (Simplified Employee Pensions).

Cash Management Services: Community banks, including NVE, offer Cash Management Services to help businesses improve cash flow, speed up processing, and maintain a strong and solvent business image. Typical services assist in collecting and managing money; allow for credit card payments; payment processing and collections management; e-mail invoice generation; and more.

Checking and Savings: Your bank should offer flexible Business Checking and Savings account options. Some, including NVE’s Business Lifeline Checking, will offer free services and other benefits as long as you maintain a minimum monthly balance. Ask about Money Market Accounts, and Certificates of Deposit (CDs).

Helping Your Business Grow

If you are a growing business in New Jersey, a financial partner can help with your expansion plans. The cost of moving to a larger space can be controlled by commercial mortgages with attractive rates. There’s more to it than that, though. NVE has been part of the Bergen County landscape for over a century, so we know northern New Jersey and its surrounding areas. Our specialists are able to guide you through every step of the commercial lending process.

Another important benefit is experience. NVE has supported local business customers for over 126 years with products and services that help them grow. And, as a community Mutual Bank, NVE’s mission is focused on helping our customers and communities prosper.

To learn about NVE’s products and services for businesses, visit our website. You can also visit your convenient neighborhood branch, or call us at 1-866-NVE BANK (683-2265).

About NVE Bank

The NVE Blog should not be used for banking purposes relating to NVE Bank. Please do not disclose any personal or business banking information on this site. NVE is an Equal Opportunity Lender, Equal Housing and Member FDIC. Visit NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call our toll-free number 1-866-NVE-Bank (683-2265) or visit our website at
This entry was posted in Bergen County, Business Bankings, Community Banking, Englewood, Mortgages & Loans, Mutual Banks, NJ, NJ Banks, Uncategorized and tagged , , , , , , , . Bookmark the permalink.

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