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Best Bank in New York for Small Business

Best Bank in New York for Small Business
Best Bank in New York for Small Business

The COVID-19 pandemic resulted in a loss of 3.3 million active businesses and generated speculation that the business world has changed forever. In these uncertain times, small businesses need sound banking options more than ever. The best bank in New York for small businesses, such as Customers Bank, can offer that.

Founded in 1997, Customers Bank has served small New York businesses with the superior customer service only found in a brick-and-mortar bank and the convenience of digital banking. This makes our team a contender for the best small business bank in New York. 

Here’s what to look for in a bank for your small business:

  • Flexible Checking Options
  • Cash Management
  • Mobile Banking
  • Superior Lending
  • Industry Solutions

Flexible Checking Accounts

Having checking account options that grow with you is essential. Look for the flexibility to choose different types of accounts. For example, Customers Bank supports you with two different checking account products to help you reach your goals and move your business forward. 

Our Commercial Interest Checking account operates with the small business in mind. There are no monthly fees, and you can open an account with just a $10 deposit. This account is suitable for companies with low transaction volumes and small balances. Once you’re business has grown, upgrade to our Commercial Interest Plus account, where you’ll get a greater return on your money. 

Standard checking account features include:

  • Unlimited check writing
  • $0-per check, deposit, or item charges
  • Secure mobile banking
  • Online check deposit

Industry Solutions and Smart Lending Practices

You pour your heart and soul into your small business; you don’t need to pour all your money into it too. A recent survey noted that 64.4 percent of small business owners tap into personal and family savings for business-related expenses. There are small business loans available to companies in all industries, however, and you may be better off with financing instead of stretching your savings too thin to cover business expenses.

In searching for the best bank in New York for your needs, take a close look at the lending options available to your business. Customers Bank offers a range of commercial lending options with equal access and fair lending practices, such as:

  • SBA Loans: These loans are issued by Customers Bank but backed by the Small Business Administration (SBA). They provide financial assistance for startup costs, working capital, expansions, real estate purchases, and more. 
  • Business Credit Lines: Get approved for a recurring spending limit on a line of credit with competitive rates, no application fees, and automatic payment options.
  • Business Term Loan: We offer comprehensive loan options, including SBA 7(a), SBA 504, and USDA B & I options. 

Customers Bank is New York’s Best Bank for Small Businesses

Growing your business from the ground up takes hard work, determination, and sound financial backing. Customers Bank serves small New York businesses with smart financial lending practices, convenient mobile banking, and friendly, face-to-face service. Talk to one of our experienced financial advisors to explore the best solutions. We encourage you to speak with one of our dedicated lenders about expanding your company’s reach with any of our affordable loan options.