3 Great Reasons To Get A Commercial Loan From Your Local Bank
As a business owner, you’re always looking for the best deal on a commercial loan. That’s why a local bank – like Sentry Bank – is a great option for any business!
Local banks are known for providing you with competitive rates and lower fees, as well as treating you as an individual rather than just another number. Sentry Bank has been the go-to local bank for Central Minnesota businesses for more than 110 years. Here are some signs it’s time for you to switch to Sentry Bank for your commercial loans.
Get in touch with our business lending team with any questions, or to start the application process!
1. Less Stringent Standards
You may have already discovered that some big banks have stricter lending guidelines when it comes to commercial loans. If you happen to have limited or less than perfect business credit or a questionable annual revenue, this can make it difficult to qualify for a commercial loan.
At a local bank like Sentry Bank, we can look at your entire business situation and base our credit decision on your unique circumstances and needs. Sentry Bank’s lenders are willing to work one-on-one with you to listen and learn about your business.
2. Lower Fees & Better Rates
According to several national surveys, one of the things people like least about big banks is their high fees and poor interest rates. When you’re trying to grow your business, you’ll want lower fees and better rates so you can reinvest in your business.
In general, local banks have been shown to have lower fees and better rates overall, and are more willing to negotiate with their local customers.
3. Personal Service
At local banks, there’s more emphasis on creating great customer service. At Sentry Bank, we have four branches within the greater St. Cloud area, allowing us to focus on the needs of our community and get to know you personally.
At Sentry Bank, you’ll often work with the same people every time you come in, for years at a time, allowing you to build and maintain a personal relationship.
Additionally, local banks have ownership and management which live in the same community as you. If you wanted to, you could likely request a meeting with bank management without much of an issue, whereas with a big national bank, you’d never be able to do so.
Financing small business loans through Sentry Bank is a great choice for your business; check out our small business loan FAQ for more information and contact us at any time with questions!