Retail banking services in Vermont come in a variety of sizes and types, from the friendly village bank to the national chains. What you have to do is find the bank that is the best match for your business and business needs.

Look to retail banks in Vermont to offer wide-ranging services to meet business needs, including business checking, lines of credit and night deposits for small businesses. Owners of corporations should find a bank that can assist your in setting up payroll services, corporate credit cards and retirement plans. Choose from retail banks in Vermont based on these considerations:

1. Vermont retail banks should have a range of services that can grow alongside your business.

2. Retail banking in Vermont should be easy with a choice of convenient locations.

3. Find out which Vermont banks have the knowledge to advise you on investment decisions.

Action Steps
The best contacts and resources to help you get it done

Go online and compare information about retail banks in Vermont

You're business keeps you busy, so you need answers fast. Most Vermont banks have websites that you can access to find out what kind of business services they offer. New businesses often need to apply for small business loans, while established businesses may want to add to benefit services to employees. You should be able to find out exactly what business services a bank offers from its website.

I recommend: Business owners have many choices when selecting their banking business partner. Chittenden Bank bills itself as Vermont’s largest business bank with a range of commercial banking services and “Preferred Lender” status with the Small Business Administration. Among its many business services, the Merchants Bank website states that it also offers lines of credit and Visa business credit cards.

Choose banking for retailers in Vermont

Retail businesses need specific services from banks, such as quick access to cash. Nearby banking locations with convenient hours can be a big help to store and restaurant owners. You'll find even more convenience with banks that offer online banking, online bill pay and other 24/7 banking services like remote deposits.

I recommend: Retailers in Swanton and St. Albans depend upon the tourist traffic from Grand Isle, so they also need to depend on their retail banks. Good choices for retailers are Banknorth and Key Bank.

Bank in Vermont for the comprehensive business services

The best banking solutions come from banks that offer specific business solutions such as business checking, card services and competitive interest rates on business loans. As your business grows, your banker should be able to advise you with commercial investment options.

I recommend: With a motto like “the things we do for dreams,” you know that Burlington’s Fifth Third Bank knows about the dreams of business owners. Look for competitive rates and specialized investment opportunities for businesses from the National Bank of Middlebury.

Enjoy the benefits of a community bank in Vermont

Business owners find many advantages banking with community banks that understand the local economy. Decisions made on the local level tend to benefit small businesses more than decisions from a conglomerate on the other side of the country. Community banks often offer more personalized, friendly services as well.

I recommend: Since 1867, Northfield Savings Bank has provided banking services to community businesses. They demonstrate their commitment to the community by donating 10% of profits to Vermont community organizations. Another long-term community bank committed to local businesses in Peoples Trust Company.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you plan to expand into other states someday, you might want to place your business with Vermont retail banks connected to a national bank.