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What bank do you use for your business?

Discussion in 'Lawn Mowing' started by soloscaperman, Jan 20, 2013.

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What bank do you use for your business?

  1. People's Bank

    2 vote(s)
    10.5%
  2. Bank of America

    5 vote(s)
    26.3%
  3. TD Bank

    1 vote(s)
    5.3%
  4. Wells Fargo

    0 vote(s)
    0.0%
  5. Local credit union bank

    11 vote(s)
    57.9%
  1. soloscaperman

    soloscaperman LawnSite Gold Member
    Posts: 3,045

    Just curious what bank you people are using for your business. I have People Business checking account for 2 years and they are great but I notice they are picky when it comes to loans.
     
  2. alldayrj

    alldayrj LawnSite Gold Member
    Posts: 3,747

    Chase for checking and savings and an amex credit card
    Posted via Mobile Device
     
  3. kandalawncaremgr

    kandalawncaremgr LawnSite Member
    Posts: 223

    I use the local community credit union. Great loan rates, great interest on my money.
     
  4. soloscaperman

    soloscaperman LawnSite Gold Member
    Posts: 3,045

    Yes even the lady at People's bank told me to go to a credit union bank for a loan lol. I tried to get a personal loan for a street bike and was denied with a credit score of 556 because I owed Planet fitness $900 (long story they basically charged me for so many years even though I used them for a few weeks my card got stolen so I got a new one and they keep charging me) and my hospital for my broken hand was $508 last July.

    What is stupid is I have creditinform that tells you your credit score every month and they claim mine is a 615!!!!
     
  5. KeystoneLawn&Landscaping

    KeystoneLawn&Landscaping LawnSite Senior Member
    Posts: 774

    For checking I use a regional bank and other banking is done at a local credit union.
     
  6. Jimslawncareservice

    Jimslawncareservice LawnSite Platinum Member
    from mn
    Posts: 4,128

    I have profinium for business and personal. And have an account set up for sales tax. We just got a new bremer bank and may check them out.
    Posted via Mobile Device
     
  7. Jimslawncareservice

    Jimslawncareservice LawnSite Platinum Member
    from mn
    Posts: 4,128

    You do realize there are 3 different places that give credit ratings? Not everyone uses them all. Some do. Some use 1 or 2 of the 3.

    I was turned down with a 696 score. Why? I have no idea.
    Posted via Mobile Device
     
  8. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Posts: 4,260

    Peoples solicited me for a loan from them. So I finally decide it would be a good idea and the banking industry collapsed the very month I went in with my application. Loved the way they turned us down we are sorry but we can not offer you a loan at this time because your gross sales are under $200,000. Now considering I had to provide tax returns and our last year at that time was $199,600 I found that denial to be a Little offensive. We went back years later with over 200k in sales and still got denied. I use them because they have supermarket locations that are open till 7 pm and they are open on weekends. But that is getting old 5 or 6 times this past year I went in their hours to find they took the day off for one make believe holiday after another. I will be researching remote deposit this winter and will likely make a switch. I like the idea of scanning the checks at the office and getting out of deposit slips and making time to get to the bank and stand in line.
     
  9. soloscaperman

    soloscaperman LawnSite Gold Member
    Posts: 3,045

    http://www.naugatucksavingsbank.com/ This might be your perfect bank. They are growing fast and I hear they hand out business loans like candy. I will be switching to them in March. They let you scan your checks at home or something which I like because I don't feel like driving to the bank even though it's not too far.
     
  10. clydebusa

    clydebusa LawnSite Bronze Member
    Posts: 1,660

    I have 4 different banks. To make a long story short if I do work for that bank I start an account with them. This has worked out really well. Since all of them are online it easy to access the funds.
     

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