As a small business owner, choosing the right banking partner is one of the most important decisions you’ll make. You need a bank that supports your growth, understands your challenges, and provides the right financial tools to help you succeed. Local community banks, such as First Fed, offer personalized service, flexibility, and a strong commitment to the local economy—making them a great choice for small businesses.
Think local, bank local: Why small businesses are making the switch
Personalized service, just for you
At a community bank you’re more than just an account number. Local banking experts take the time to understand your business and provide tailored financial solutions that fit your unique needs. Whether you need a business loan, a checking account, or financial advice, these banks offer fast, local decision-making and personalized support.
“We had been frustrated working with Wells Fargo,” recalled Todd Glass co-owner of Story in a Bottle Wines in Bellevue. “At First Fed, it’s been amazing to work with people who care and show an interest in our business. The personalized experience makes a huge difference, especially with more complex transactions, like international wire transfers.”
Flexible lending to help you grow
Securing funding for your business can be tough, but local banks often make it easier. Their flexible lending solutions may include:
- Small Business Loans: Competitive interest rates and customized repayment terms to fit your budget.
- Lines of Credit: Access to funds when you need them for cash flow, inventory, or unexpected expenses.
- Commercial Real EstateorConstruction Loans: Financing options to help secure or build the perfect location for your business.
“First Fed helped us get our business off the ground,” said Jacob Ramsey, owner of A Taxi Cab Company in Port Townsend. “Their helpful, responsive, and friendly customer service has made them an excellent partner. I would recommend them for any banking needs.”
Investing in the local economy – including you
Unlike big banks that send profits elsewhere, community banks reinvest in local businesses and community initiatives. When you bank locally, you’re not just managing your finances—you’re helping to build a stronger local economy that benefits everyone.
“We realized that Fairhaven is an amazing microcosm of the Bellingham community. People and businesses help each other,” said Jude Machin, owner of Fairhaven Coffee in Bellingham. “First Fed heard about our plans with Fairhaven Coffee when we opened our business account with them. They invited us to do a pop-up station at their Fairhaven branch location even before we had opened the coffee shop officially. It was apparent how supportive First Fed is to local businesses.”
Smart deposit solutions for small businesses
Small businesses need to be strategic with their deposit products to maintain financial stability and maximize growth. By choosing the right mix of deposit accounts, businesses can manage cash flow efficiently, earn interest on idle funds, and safeguard against financial uncertainties, all while keeping their money accessible when needed. Local banks like First Fed offer a variety of deposit accounts designed to help you manage your money efficiently:
A reliable checking account is essential for any business. A business checking account with a local community bank often provides personalized service, lower fees, and greater flexibility than big banks, all while being tailored to your unique business needs.
With online and mobile banking, low or no minimum balance requirements, and competitive transaction limits, small business owners can efficiently manage cash flow while enjoying the support of a bank that prioritizes the local economy. Plus, banking locally means investing in your community, fostering relationships that can lead to new opportunities and growth.
“Several of our friends here recommended First Fed,” said Caleb Messinger, co-owner of Southern Nibble in Sequim. “We’ve been banking with them since before we opened our business. We love that they are a community bank that really cares about their customers.”
Business Savings & Certificate of Deposit (CD) accounts
Keeping a financial cushion is key, both for unexpected expenses and for future growth. By setting aside funds in interest-earning accounts, businesses can generate passive income while ensuring stability during slow periods or economic downturns.
Some useful options include:
Business Savings Accounts: Earn competitive interest on idle funds while maintaining full flexibility and easy access to your money whenever you need it.
Certificates of Deposit (CDs): Lock in a fixed interest rate for secure, long-term growth.
Managing your finances should be simple, and treasury management services from a community bank can provide personalized solutions to streamline operations and improve cash flow. Merchant services allow businesses to process credit card payments securely and efficiently, while automated payroll and ACH processing ensure seamless payments to employees and vendors. With customized treasury solutions, small businesses can optimize financial operations, reduce risks, and focus on growth.
“While we were banking at First Fed, their team introduced us to an alternative merchant services system,” recalled Shauna Peters, co-owner of Bug and Buf’s Espresso in Forks. “They helped us set up the new system that not only solved our processing and payroll issues, but also added easy inventory, daily sales, and labor cost tracking.”
The advantage of banking locally
Local banks like First Fed are committed to helping small businesses succeed. With personalized banking services, competitive deposit products, and flexible lending options, they provide the financial support small businesses need to grow and thrive.
“It’s been incredible working with First Fed,” shared Joe Fugere, Founder and CEO of Tutta Bella in Seattle. “First Fed’s focus on supporting their customers is unmatched in the banking community. I would recommend them for virtually any banking need.”
Make the smart choice for your business. Consider banking with a local community bank and experience the difference of working with a financial institution that truly cares about your success.
To learn more, visit ourfirstfed.com or stop by a branch today!
First Fed is a Member FDIC and Equal Housing Lender.
