Business Banking Services
Often businesses are surprised by the scope of services that are available to them through The Callaway Bank. We may be a community bank, but we still provide a full suite of services that help businesses of all sizes to be more productive and efficient.
There is rarely a manager or business owner who says he or she has plenty of time to run his or her company, or feel that his or her money and cash flow are tuned perfectly. Below are just some of the solutions that can help a company with their operations.
Cash flow is king when running a small business. Oftentimes, the business has to cover inventory purchases or payroll for a job long before it receives payment for it. A basic Line of Credit is the perfect solution to keep the wheels turning. This is better than relying on a credit card because it builds your company’s credit with the bank, whereas the credit card only adds to your personal credit history.
Additionally, if you are bursting at the seams and need to expand, we can assist you with business construction loans, real estate loans, livestock loans and equipment loans. We can do just about any type of loan including SBA loans, as we’re an authorized Small Business Administration lender. We’ll guide you through the process to make it as easy as possible.
Direct Deposit / ACH
Wouldn’t it be nice if you could just press a button and your payroll is done? Well, it’s almost that easy with Direct Deposit. After your employee list is set up, you just fill in how much they are due and then hit submit. Your employees will have their paycheck automatically deposited into their account each pay period. This saves you a lot of time and avoids having to print and stuff checks.
Do you have customers that pay you the same each month for rent or a service plan? Using an ACH debit to their account speeds up the accounts payable process. Similar to the direct deposit process, you set up your template to pull funds from their account electronically (with their permission of course), and you’ve just shortened your collection process!
This is one of our most raved about services. It’s simple: We come by and pick up your deposit. How cool is that!? No more hassle of running to the bank, fighting traffic or wasting gas to do it. Our Courier Banking customers tell us that it saves them so much time, and that saved time translates into better productivity. It also reduces their risk. If an employee has an accident on the way to the bank, it falls under the employer’s liability, not to mention the added risk of transporting cash to the bank. With Courier Banking, once our teller picks up your deposit, it becomes the bank’s responsibility and risk.
We do have to mention that Courier Banking is currently only available in the Columbia market. However, we are evaluating if it would be viable in other areas.
Do you accept credit or debit cards? Some of the latest research shows that 60-70% of transactions are now made with a card. If you don’t provide that option, you may be limiting your business. We can set your company up or evaluate your current provider, and determine if we can save you money. There are many options for how your company can take cards in terms of equipment, such as through your POS and online. We recently set up a small business to accept cards through the iPhone. That was pretty slick!If you have questions about these or any business services, please contact your Personal Banker or Lender, or our Customer Care Team and let us help you improve your company’s operations. We enjoy helping our customers succeed and appreciate the opportunity.
Toll Free: 800.446.2265