www6-bmo.com Open in urlscan Pro
2a02:4780:b:964:0:33a7:342:2  Public Scan

Form analysis
2 forms found in the DOM

GET https://aofund.org/search

<form class="flex mb-13 relative" action="https://aofund.org/search" method="GET">
  <svg class="w-4 h-4 absolute top-1/2 -translate-y-1/2 transform ml-3.5" xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 16 16">
    <defs></defs>
    <path stroke="#1E22AA" stroke-width="2" d="M14.536 14.536l-4.03-4.03"></path>
    <path stroke="#1E22AA" stroke-width="2" d="M6.555 1a5.555 5.555 0 11.001 11.11 5.555 5.555 0 010-11.11v0z" clip-rule="evenodd"></path>
  </svg> <input type="text" name="q" class="py-1.5 border-brand-blue border-2 flex-grow mr-5 placeholder-gray-700 text-base pl-10 leading-none" placeholder="Search...">
  <button type="button" @click="$store.nav.isOpen = false" aria-label="Close Menu">
    <svg class="w-6 h-6 text-brand-blue" xmlns="http://www.w3.org/2000/svg" fill="none" viewBox="0 0 27 27">
      <defs></defs>
      <path class="stroke-current" stroke-linejoin="round" stroke-width="2" d="M25.85 1L1 25.85M25.85 25.85L1 1"></path>
    </svg> </button>
</form>

GET https://us.accion.org/accion-utilities/referral.php

<form x-ref="form" x-show="!submitted" @submit.prevent="submit" action="https://us.accion.org/accion-utilities/referral.php" method="GET" class="space-y-4 max-w-md w-full">
  <input type="hidden" name="partner" value="4">
  <input type="hidden" name="env" value="2">
  <div class="flex px-4 flex-col w-full">
    <label class="sr-only" for="apply-loanAmount">Loan Amount</label>
    <input class="placeholder-gray-700 focus:outline-none focus:ring focus:ring-opacity-50 focus:ring-brand-blue-light border-2 placeholder-gray-700 border-brand-blue px-3 py-2" placeholder="Loan Amount" type="number" name="amount"
      id="apply-loanAmount" min="5000" max="100000" required="required">
  </div>
  <div class="flex px-4 flex-col w-full">
    <label class="sr-only" for="apply-emailAddress">Email Address</label>
    <input class="placeholder-gray-700 focus:outline-none focus:ring focus:ring-opacity-50 focus:ring-brand-blue-light border-2 placeholder-gray-700 border-brand-blue px-3 py-2 input" placeholder="Email Address" type="email" name="email"
      id="apply-emailAddress" required="required">
  </div>
  <div class="flex px-4 flex-col w-full">
    <label class="sr-only" for="apply-loanPurpose">Loan Purpose</label>
    <select class="placeholder-gray-700 focus:outline-none focus:ring focus:ring-opacity-50 focus:ring-brand-blue-light border-2 placeholder-gray-700 border-brand-blue px-3 py-2" placeholder="Loan Purpose (what is this loan for)" name="purpose"
      id="apply-loanPurpose" required="required">
      <option disabled="" selected="" value="">Loan Purpose</option>
      <option value="DEBT_CONSOLIDATION_OR_REFINANCE">Debt Consolidation or Refinance </option>
      <option value="INVENTORY_PURCHASE">Inventory Purchase</option>
      <option value="EQUIPMENT_PURCHASE">Equipment Purchase</option>
      <option value="VEHICLE_PURCHASE">Vehicle Purchase</option>
      <option value="WORKING_CAPITAL">Working Capital</option>
      <option value="REMODEL">Remodel</option>
      <option value="NEW_BUSINESS_LOCATION">New Business Location</option>
      <option value="ACQUIRE_BUSINESS">Acquire Business</option>
      <option value="MARKETING">Marketing</option>
      <option value="EMERGENCY_REPAIRS">Emergency Repairs</option>
      <option value="OTHER">Other</option>
    </select>
  </div>
  <div class="text-xs italic md:text-center text-gray-700 wp-editor px-2">
    <p><em>Loans are originated and funded through our lending arm, Accion Opportunity Fund Community Development. By clicking “Continue to Application,” you consent to, Accion Opportunity Fund Community Development’s
        <a href="https://aofund.org/terms-of-use/" target="_blank" rel="noopener">Terms of Use</a> and <a href="https://aofund.org/privacy-policy/" target="_blank" rel="noopener">Privacy Policy</a>; and to
        <a href="https://aofund.org/agreement-to-receive-electronic-communications/" target="_blank" rel="noopener">receive emails, calls and texts</a>, potentially for marketing purposes, including autodialed or pre-recorded calls. You may opt out
        of receiving certain communications as provided in our <a href="https://aofund.org/privacy-policy/" target="_blank" rel="noopener">Privacy Policy</a>.</em></p>
  </div>
  <button x-bind:disabled="submitting" class="p-4 uppercase tracking-widest font-semibold text-sm text-center
               w-full focus:outline-none focus:ring ring-offset-2 ring-opacity-50
               transition duration-500 ease-cb-default
               bg-brand-yellow hover:bg-brand-yellow-light ring-brand-yellow 
               "> Continue to Application </button>
</form>

Text Content

 * Small Business Loans
   * CARF
   * Progress Loan
 * Resources
   * Videos & Articles
   * Programs
   * Coaching Hub
   * Interactive Learning
 * Why AOF?

 * About
 * News & Press
 * Careers
 * Contact
 * Donate

Apply for a Loan


BUSINESS BANKING: 10 TIPS FOR CHOOSING THE RIGHT BANK

Banks differ in the products and services they offer. Here are 10 things to
consider when finding a bank to meet your business needs.


Share


Choosing a bank for your personal banking is hard enough – finding a bank for
your business needs can feel even more overwhelming. There are so many choices,
where do you even start?

Banks differ in the financial products and services they offer to small
businesses and start-ups. Fees, lending options, and perks may vary widely.
These are 10 things you should consider when shopping for a bank to meet your
business needs.

 


1. SIZE MATTERS.

When it comes to banking, size matters. However, that doesn’t mean that bigger
is always better. You’ll need to evaluate your business’s needs and your comfort
level to decide whether you’d rather work with a small community bank or a large
national bank. Big banks have lots of branches, lots of different offerings, and
lots of resources. They can give you a wide variety of credit options and may be
able to offer you perks for opening accounts or lines of credit.

Smaller community banks may be more attuned to local market conditions and more
willing to work with you based on your character and overall profile, rather
than the hard numbers of a credit score – in other words, it might be easier to
secure a loan or line of credit. Smaller banks may also be more willing to give
you a better rate or a lower fee in order to win your business.

Whether you need the resources and variety of a large bank or the local
expertise of a small bank, keep in mind that you’re going to need a personal
relationship with your banker. You’ll be working with that person a lot and
having a good relationship can be a big help if you run into trouble with fees
or missed payments. So, set up meetings with bankers at both small and large
banks. Talk to them and see what they can offer you.

 


2. CHECK YOUR CREDIT.

Larger banks can take their pick of what businesses they want to work with. That
means it may be hard to get into a large bank if your business is very new or
has a low credit score. Small, local banks may be more forgiving of new local
businesses and may have less stringent credit requirements for opening accounts
and lines of credit.

Check out the credit requirements for the banks you’re considering to see if
you’ll be able to get what you need out of your business accounts.

 


3. APPROACH INTERNET BANKS WITH CAUTION.

Online banks are becoming more common but should be approached with some caution
and after thorough research. Part of banking is building a business relationship
and building your business credit, both of which may be easier offline than on.
There are times when you physically need to attend to your banking needs with a
banker. An Internet-only bank precludes that one-on-one attention and personal
service.

If you’re in a very early stage and only need very simple business services
(like opening a business checking account), an online bank may be able to meet
that need. However, you may want to consider the cost and difficulty of
switching to a more traditional bank if you later need services that your online
bank can’t provide.

 


4. LOCATION, LOCATION, LOCATION

Where is the bank located? Consider the bank’s proximity to your office, home,
and areas where you travel. Do you need the ability to make deposits on a daily
or weekly basis? Do you often withdraw cash for your business? Do you ever need
bank-issued certified checks? Do you travel for work and need to be able to use
national ATMs without fees?

Consider the nature of your business and how often you will need to frequent the
bank when making your decision. If you need to physically enter the bank more
than weekly, then make your choice accordingly. Likewise, if you travel
nationally, you’ll want a bank you can count on from coast to coast.

 


5. WHAT ARE YOUR DIGITAL NEEDS?

How often do you use technology for your banking needs? Do you automate your
accounts online? Do you want to be able to make deposits with only your cell
phone? If your work requires travel or if your company is tech-centric, you may
want to have more digital options when dealing with your bank.

If that’s important to you, then look for a bank that uses the latest tech and
has the platforms to support your particular needs.

 


6. ARE YOU WORKING WITH THE SBA?

If you are applying for an SBA loan, you may want to consider developing a
relationship with an SBA lender. The SBA lists lending-friendly banks for small
businesses and directs business owners toward preferred lenders in their
respective states. Talk to your loan officer at the SBA about your options for
banking and whether you should limit your bank search based on your potential
SBA loan.

 


7. WHAT SERVICES DO YOU NEED?

Certain services should be expected from all banks. At a minimum, you should
look for your bank to provide the following business products:

Basic Business Account Services:

 * Checking account
 * Savings account
 * Credit card/debit card
 * Checks and a checkbook
 * Deposit-only card
 * Online business banking
 * Employee checking accounts

Find out the details on each of these business banking products, as well as any
fees or requirements. Checking account fees are still common, but some banks
offer free business checking accounts with no minimum balance as an enticement.
Fees and requirements (minimum balance, checking fees, monthly required use of
debit card) vary widely, so take time to comparison shop and look at the details
of each bank’s offerings.

If you have other business banking needs, such as opening a line of credit, ask
about it upfront. You don’t want to sign up for business checking and find out
that they can’t give you a loan when you need it.

 


8. WHERE ARE THE PERKS?

Seeking to court customers, some banks offer gift cards to new customers. Some
banks offer a cash bonus for opening a new account. Others may offer payroll
services, hotel discounts, lowered insurance rates, and even tax prep help.

You shouldn’t make this important decision based on good “perks,” but asking
about what’s available to new business accounts may score you an added bonus or
some worthy discounts. It can also help break the tie if you’re having a hard
time deciding between 2 banks.

 


9. WHAT KIND OF SUPPORT DO YOU NEED?

Some banks keep staff on hand to help you manage and grow your business. Such
specialists may be valuable as you grow your business. They may be able to
advise on how to run your accounts, fund growth, and expand your business. They
may also be helpful with tax or payroll issues.

When choosing your account, think about how much support you need not just
today, but going forward as your business grows and changes. If this resource is
something you think you’d use as your business evolves, then consider its
availability when choosing a bank. You can always find an outside specialist,
but an internal one will already be familiar with your business, your finances,
and you personally.

 


10. TRUST YOUR GUT.

Ultimately, you’re building a relationship. Does the bank feel like a good fit
for your business and its needs? You want to feel comfortable with the bank and
trust the institution. It’s worth finding the bank that truly connects with you
and your business. If it doesn’t feel right, or you’re compromising on important
needs, keep looking.

 


THE BOTTOM LINE

If you’re running a business, you’re going to need a bank. Think carefully about
what you need and about what each bank can offer you. Also, remember that the
choice of a bank isn’t permanent – you can change it up if you’re not happy or
if you outgrow the bank you started at. Having a good relationship with your
bank can make running your business a lot easier, so don’t neglect it!

Close Application Modal


GET STARTED

Loans from $5,000 - $100,000 with transparent terms and no prepayment penalty.
Tell us a little about yourself, your business and receive your quote in minutes
without impacting your credit score.


THANKS FOR APPLYING!

Loan Amount
Email Address
Loan Purpose Loan Purpose Debt Consolidation or Refinance Inventory Purchase
Equipment Purchase Vehicle Purchase Working Capital Remodel New Business
Location Acquire Business Marketing Emergency Repairs Other

Loans are originated and funded through our lending arm, Accion Opportunity Fund
Community Development. By clicking “Continue to Application,” you consent to,
Accion Opportunity Fund Community Development’s Terms of Use and Privacy Policy;
and to receive emails, calls and texts, potentially for marketing purposes,
including autodialed or pre-recorded calls. You may opt out of receiving certain
communications as provided in our Privacy Policy.

Continue to Application