Small Banks Promote Entrepreneurship
Community banks care about their entrepreneurs by offering low-interest Massachusetts small business loans and competitive Massachusetts mortgage rates. They also offer Massachusetts auto loans with low APR. Community banks work outside the traditional model of evaluating an applicant’s risk by treating the one-on-one interview as an important factor in the loan application.
Professionals have unique needs and requirements for their business checking account. They need the maximum number of monthly transactions without the dreaded service fees. Free online banking is a must, but nothing beats the relief of having no minimum balance requirement. Professionals in the Bay State want a Massachusetts Bank that will offer more “free” and less hassle.
In fact, professionals desire more than free services: they want to make money by saving it. Some community banks in Massachusetts offer business owners competitive interest rates in both checking and savings accounts. Employees will also experience the benefit of earning interest on their checking account while enjoying free direct deposits and ATM usage anywhere.
Business Checking Massachusetts is meant to be easy which is why some local banks are providing deals that will give entrepreneurs peace of mind. For example, community banks are giving new business owners a head start by offering discounted rates on personal loans as well as home equity lines of credit. Some banks will even throw in a friendly gift card upon closing a mortgage deal!
Local banks understand the plight of entrepreneurs who are in a tough position without investors or partners. Massachusetts Mortgage Rates vary and large banks will quite often reject applicants on the spot because of their bad credit score. Fear not! Community banks weigh the one-on-one interview as an important factor in determining loan applications.
The reason for this is that small banks understand that more local industry means more profit for them. Smaller financial institutions also have inside knowledge of their communities and lack the bureaucracy of their larger competitors. They work with residents in their territory to strengthen entrepreneurship which consequently creates business for them.
Since local banks have inside knowledge of the surrounding area, they are well equipped to give business advice and best of all, they actually want to help.
Additionally, some community banks offer mortgage rates that rival those of their multi-branched competitors. Qualified applicants may receive 30-year fixed rates at as low as 4.375% with low APR. Even 15-year fixed rates are relatively low at 3.75%.
When choosing a Massachusetts bank, remember that small banks have an interest in making local businesses grow. By offering competitive rates and expert advice, local banks provide a great option for entrepreneurs.
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ABOUT THE AUTHOR
Morgan is a resident of Massachusetts. She writes about local banking and the difficulties of choosing the best Massachusetts mortgage rates and Massachusetts small business loans. She also writes about Massachusetts auto loans and other local finance related topics.