Business banking is very important and something we focus on at Minnesota National Bank. We think it is extremely important to support startup businesses because we have been there! We specifically enjoy working with small, local businesses in our communities. It strengthens our economy and creates healthy, long lasting relationships amongst businesses.
Working with small businesses we have been able to learn what works and what doesn’t. Here are our top tips for small business banking:
- Focus on the “5 Cs” of credit- character, cash flow, capital, conditions, and collateral.
- Know that relationships are very important, no matter what aspect, but especially with your bank
- Open a separate banking account for your business
- Reinvest in your business as you gain profits
We are here to help whether it’s a new business venture or a well-established business! We will utilize our expertise to give you the best results and service possible. We have years of experience working with different businesses and all of that experience adds up!
We have three major business banking options-
- Business checking- high volume business, business interest reward, business relationship, small business interest, and free small business checking accounts are available.
- Agricultural lending- agriculture and farm real estate, farm lines of credit, Ag term/equipment loans, and agriculture and farm construction financing.
- Business lending- commercial real estate, business lines of credit, business term loans, and commercial construction financing.