Best Small Business Bank in Asheville, NC

Between managing a payroll, paying utility bills, budgeting overhead costs, and balancing your revenue and expenses, running a small business brings big financial responsibilities.

First Bank1 can help small businesses take on these tasks. We have 13 locations throughout the Asheville and Western North Carolina area, bringing exceptional banking solutions right to your community.

Our team of local, knowledgeable banking experts is dedicated to helping local Asheville entrepreneurs thrive. In fact, we first opened our doors in 1935 to help local business owners manage their money during hard economic times. Whether you’re opening a brewery, restaurant, boutique, art center, outdoor activities, or provisions store, we have something for you.

Visit one of our locations or contact us to learn why First Bank is the best bank for small businesses in Asheville, NC.

What Should I Look For in a Bank as a Small Business Owner in Asheville?

When starting a business, it can be hard to know where to begin. Selecting a bank for small businesses takes thought and research, but choosing the right one for your business can lighten your to-do list and put your mind at ease.

As you’re researching what bank is best for small businesses in Asheville, think about these questions:

  • What tasks do you need the bank to take care of? Determine what tasks you or your staff will complete and what you can hand off to a bank instead.
  • What kind of accounts do you need? In addition to business management services, it’s likely you’ll need checking and savings accounts.
  • What is the cash flow moving in and out of your account? This could determine what the minimum balance in your account should be.
  • Do you want to be able to meet with a banker in person? A local, brick-and-mortar bank is essential if this is your preference. The Western Carolina team at First Bank enjoys getting to know our customers, so we can better understand your needs and provide the best available services.
  • Do you intend to take out a loan?2 It’s normal to need extra cash to get a business off the ground or pay for a workspace or equipment. Look into what rates the banks are currently offering and what works for your budget. Keep in mind that research shows that small banks are more likely than large banks to provide a business loans.

First Bank takes pride in helping members of the Asheville community protect and manage their finances, both personally and professionally. Our local banking experts at First Bank can help you find your answers and provide the right services for your small business.

What a Small Businesses Bank Can Do for You

From managing your transactions to providing employee benefits, banks for small businesses offer services that free up entrepreneurs to take care of their employees and keep their business financially healthy.

Common services offered by the best small business banks include:

  • Checking and savings accounts
  • Small business loans
  • Credit cards and other credit offerings
  • Merchant services
  • Payroll services
  • Service support

Find all these offerings and more at First Bank. We’re proof that you don’t have to go outside of the Asheville area or join a large bank to discover the best small business bank with exceptional banking solutions and employee benefits.

First Bank’s Services for Small Businesses in Asheville

First Bank is eager to invest in the Asheville community and make local businesses a success. Learn more about our services and products for small businesses and what we can do to take your organization to the next level.

Best Small Business Checking Accounts

First Bank has multiple options for small business checking accounts to manage your cash flow. Whether you have a high transaction volume or just need the banking essentials, we have something for you.

Each option has different minimum balance, number of free transactions per month3, ways to keep your account free of monthly maintenance fees, and cash deposit limits.

You can enjoy the benefits of our best small business checking accounts in Asheville, including:

  • Free online and mobile banking4
  • Debit card and rewards program5
  • eStatements
  • Account alerts
  • Group banking

Visit one of our bankers who can understand what you’re looking for and set up the best small business checking account for your organization.

Business Savings Accounts

Opening a savings account is a great way to make sure your business has extra money stored away for taxes, future projects, surprise expenses, and any emergencies. It’s especially important for new businesses to have funds set aside.

First Bank offers a basic savings account with a low minimum balance, as well as two higher yield savings options if you’d like your savings to grow at a higher rate.

You can compare our business savings accounts online and see what the right fit is for you. If you’re not sure, our friendly bankers would love to help you identify your needs and find a solution.

Debit and Credit Cards for Businesses

You and your employees can access your business checking account with a business debit card from First Bank. Earn points with daily and monthly purchases when you enroll, and enjoy shopping and travel benefits. This card is secure with zero liability if unauthorized purchases are made, so you’re not responsible to pay the cost.

The Business World credit card with rewards from First Bank offers no annual fee, competitive rates, and rewards benefits, including for shopping and travel. Asheville small business owners of all kinds can use it as a tool to manage your business expenses.

Try our online rewards calculator to see how you could benefit from a First Bank Business World credit card.

Small Business Loans

Business loans2 provide immediate lump-sum of cash for long-term financing, which you can quickly use your funds to fund your startup, expand your business, buy new equipment, or anything in between.

As the best bank for small businesses, First Bank also offers:

  • Lines of credit—A First Bank credit line gives you the flexibility you need to make business purchases quickly and conveniently. You can repay and reuse your credit line as needed.
  • Commercial mortgages—Use our commercial mortgages or loans for expansion or to find the perfect location for your small business.
  • Small Business Administration (SBA) loans—Talk to our SBA associates who know niche industries and can help you understand the competitive small business loan rates and flexible terms we offer.

Visit your nearest Asheville First Bank branch to meet with one of our business loan experts and learn more about how to get a small business loan.

Merchant Services

The right merchant services can make your business operations more manageable and profitable. First Bank offers:

  • Payment processing and management—This solution enables your customers to pay with credit cards, debit cards, gift cards, and more.
  • Reconciliation and reporting—Our TransLink reporting system provides comprehensive activity reports all in one place.
  • Check collection—Process signatures while protecting your business from fraud.

What merchant services would give your business the tools it needs to succeed? Talk to a First Bank representative about your options.

Treasury Services

From paying your employees to filing your taxes online, treasury services solutions from First Bank streamline your processes, so you can run your businesses more efficiently.

Ask us how these services can be a part of your small business:

  • Remote deposit services and receivables
  • Payroll processing
  • Online and mobile banking for cash management

Find the right combination cash management solutions to make business management simpler for you and your team.

Online Banking

Digital banking business services from First Bank give small business owners in Asheville easy access to their accounts from their smartphone, tablet, or computer. With our online and mobile banking solutions, you are never more than one click away from your assets.

Through online business banking, you can:

  • Check your account balances
  • Make changes to your accounts through text messaging
  • Deposit check using your phone
  • Pay your bills
  • Receive eStatements online instead of in the mail

Insurance for Small Businesses6

Are you protected if something unexpected happens to your business? Commercial insurance for small businesses from First Bank Insurance Services safeguards your business against things like floods, business owner policies, workers compensation, and more.6

First Bank Insurance Services also works with you to assemble an attractive employee benefits plan complete with retirement, disability, and insurance options. Meet with one of our local insurance experts today to discuss our insurance products and services for businesses.

Why Asheville Is Great for Small Businesses

Business owners know that selecting the right location for your business is key. Are you trying to figure out the best place to open your small business? Here’s why you should consider Asheville, NC:

  • First Bank has five convenient Asheville locations, as well as several branches in the surrounding areas, including Candler, Marion, Black Mountain, Mars Hill, and beyond. With a strong presence in the Western Carolina region, you have easy access to a bank that puts you and your business first.

First Bank: Best Small Business Bank in Asheville

It takes the best bank for a small business to help you succeed in today’s marketplace. First Bank is here to help you achieve your dreams as an entrepreneur. Not only will our products and services ease the load of managing a business, but our team wants to get to know you and your business to better support you.

Our mission is to be the best community bank in every community we serve and through every delivery channel we offer. You can depend on us to give you the personal attention you deserve and set your business up for financial success. We are accredited by Better Business Bureau and are a leading community bank in North Carolina.

If you’re ready to get started, sign up online for a small business financial consultation. You can also visit an Asheville First Bank branch near you or contact us at 1-866-792-4357.

Sources:

Entrepreneur: https://www.entrepreneur.com/article/272063

Clever Girl Finance: https://www.clevergirlfinance.com/blog/2016/8/4/3-reasons-why-you-need-a-business-savings-account

Less Everything: http://lesseverything.com/business-advice/small-business-cash-flow/

Chron: http://smallbusiness.chron.com/location-business-important-43239.html

Asheville Convention & Visitors Bureau: https://www.ashevillecvb.com/wp-content/uploads/2013/07/Asheville-NC-Tourism-Impacts-2012_12072013.pdf

Asheville Convention & Visitors Bureau: https://www.ashevillecvb.com/research-reports/

US News & World Report:

https://realestate.usnews.com/places/north-carolina/asheville

Forbes: https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/places/nc/asheville/&refURL=&referrer=

Asheville Grown: https://ashevillegrown.com/small-business-everyday

Economic Development Coalition: https://www.ashevillechamber.org/business-environment/small-business/

1Member FDIC.

2Loans subject to credit approval.

3A transaction is defined as any checks paid, deposits, each deposited item, ATM withdrawals, debit card transactions, online and telephone funds transfers, and ACH debits and credits. There is a fee of $0.40 per item for each item in excess of 500 per statement cycle (or month).

4While First Bank does not charge for mobile banking, your mobile carrier’s message and data rates may apply

5Requires free enrollment in each program. Rewards are based upon qualifying purchases as defined in the terms of each program. Click for additional information.

6Our insurance products are underwritten by non-affiliated insurance companies. Insurance products offered are not FDIC insured, not bank insured, may lose value, not insured by any Federal Government Agency, and not a bank deposit.