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Unlocking Growth: First Pryority Bank’s Comprehensive Business Banking Services

Business Banking Offerings at First Pryority Bank

Business Banking is crucial for entrepreneurs and businesses because it separates personal and business finances, ensures accurate record-keeping and tax compliance, and enhances credibility with clients and partners. 

Various products and specialized services are included within the business banking category, such as business checking, savings accounts, loans, credit cards, and cash management tools, aiding in effective financial management, cash flow optimization, and growth planning. Moreover, business banks offer access to essential financing options such as loans and lines of credit, which are vital for covering operational expenses, expansions, and equipment purchases, ultimately fostering business growth and success.

With our emphasis on security, fraud prevention, and personalized customer service, the tailored business banking services offered by First Pryority Bank add another layer of reliability and trust for businesses searching for their banking home. Read on to learn how First Pryority Bank stands out as a dedicated partner committed to helping businesses thrive by offering flexible, accessible, and innovative business banking solutions.

Business Banking Offerings at First Pryority Bank

First Pryority Bank’s business banking services provide comprehensive solutions tailored for entrepreneurs and businesses alike. From business checking and savings accounts that promote financial organization and cash flow management to business loans, credit cards, and lines of credit that fuel growth and expansion, we provide a full suite of financial tools. 

Business Checking Accounts

At First Pryority Bank, we recognize that a robust business checking account is the cornerstone of managing your daily operations and fostering growth. That’s why we offer various business checking options tailored to meet the diverse needs of companies at every stage of development.

Our Small Business Checking account is perfect for businesses with smaller transaction volumes and who are ready to expand. With this account, you can enjoy up to 250 transactions per month, with a modest fee per transaction thereafter. Plus, you’ll have access to convenient digital banking tools and a VISA® debit card, requiring only a minimum deposit to fund the account at account opening.

For those seeking a balance of essential services and the opportunity to earn interest, our Business Interest Checking account is an excellent choice. Earn competitive, tiered interest rates on balances of $1.00 or more, and avoid the monthly maintenance fee by maintaining a $1,000 average collected balance or $500 minimum daily balance. This account also includes 25 debits and 20 transit items per month, with minimal fees for additional transactions, alongside digital banking services and a VISA® debit card.

If your business deals with larger transaction volumes and maintains higher balances, our High Pryority Business Checking account provides enhanced benefits. Earn interest on balances of $50,000 or more, and avoid the monthly maintenance fee by maintaining a $5,000 minimum daily balance. This account offers up to 350 monthly transactions, with a modest fee for additional transactions, and includes digital banking tools and a VISA® debit card.

No matter which business checking account you choose, First Pryority Bank is committed to providing reliable banking solutions that empower your business to thrive.

Business Savings Accounts

The dedicated team at First Pryority Bank understands the importance of smart financial planning for businesses. That’s why we offer a range of business savings options designed to suit your specific needs and help your money work harder for you.

Our Commercial Savings account is perfect for building a financial cushion for unexpected expenses. With competitive interest rates earned when maintaining a $100 minimum daily balance, you can grow your savings effortlessly. Avoid the quarterly maintenance fee by maintaining a $25 average collected balance. This business savings account also provides digital banking access for convenient account management, requiring only a $100 minimum deposit to fund the account at account opening.

For businesses seeking enhanced account access and the opportunity to earn competitive interest rates, our Business Money Market account combines the best features of checking and savings. Earn competitive, tiered rates on balances of $1.00 or more, and avoid the monthly maintenance fee by maintaining a $1,500 average collected balance or $900 minimum daily balance. Enjoy digital banking services and a VISA® debit card, with a $100 minimum deposit required to fund the account at opening for the business account.

If you prefer to lock in higher earnings with a fixed-rate investment, our Business CDs (Certificates of Deposit) offer an excellent option. Benefit from fixed rates higher than regular savings, with the opportunity to earn even more by selecting a longer term. Choose from a wide range of terms, from three months to five years, to align with your savings goals. There are no setup or monthly maintenance fees, although early withdrawals are subject to penalty. Open a CD with a minimum deposit of $1,000 and watch your savings grow securely.

No matter which business savings option you choose, First Pryority Bank is committed to providing competitive rates, convenient account access, and exceptional customer service.

Business Loans

Businesses sometimes need financial support to achieve their goals through a business loan. That’s why we offer a wide range of business loans designed to provide quick access to funds and support your growth and success.

  • Business Lines of Credit: Gain financial flexibility with a business line of credit that ensures funds are available when you need them. With local decision-making and a focus on helping local businesses thrive, our business lines of credit offer peace of mind and tailored financial solutions.
  • SBA Loans: Backed by the government, our Small Business Administration (SBA) loans are ideal for businesses that may face challenges in getting traditional loans approved. Whether you need assistance with expenses or want to seize new opportunities, our SBA loans provide accessible funding options.
  • Commercial Real Estate Loans: Stay competitive in your market with our commercial real estate loans. Whether you’re building, expanding, or purchasing land, we customize loans to meet your specific needs, helping your business achieve its real estate goals.
  • Equipment & Machinery Loans: Finance the equipment necessary to drive your business forward. From heavy machinery for construction companies to office equipment for expanding offices, our competitive-rate equipment loans and machinery financing options empower your ongoing success.
  • Agriculture Loans & Lines of Credit: With a deep understanding of local agriculture, we offer loans tailored to the needs of farmers and agribusinesses. Our agriculture loans and lines of credit support a wide range of agricultural needs, helping local farmers thrive.
  • Receivables Factoring: Managing cash flow can be challenging, but our receivables factoring service, BusinessManager, turns your Accounts Receivable into cash quickly. Say goodbye to cash flow headaches and keep your business running smoothly.

No matter your business’s needs, First Pryority Bank is here to provide efficient loan solutions, local decision-making, and dedicated support to help your business succeed.

Business Credit Cards

When it comes to your business, having the right financial tools is essential. That’s why First Pryority Bank offers a Business Credit Card designed to meet the unique needs of your business operations and financial management.

Our Business Credit Card provides several key features and benefits designed to meet the needs of businesses. It improves cash flow by offering flexibility in managing expenses, whether covering immediate costs or handling unexpected financial demands. The card increases your buying power, allowing you to make essential purchases without disruption and helping you stay competitive and responsive. Detailed transaction tracking helps you gain insights into your business spending, categorize expenses, and streamline financial record-keeping for better budget management and decision-making. Additionally, managing employee expenses is simplified by issuing individual cards to team members, with controlled spending limits, tracked purchases, and consolidated expenses for streamlined accounting.

You can tailor the program with our customizable options to fit your unique needs, designing individual cards for each employee while maintaining control over spending limits and usage. Billing flexibility allows you to choose between individual or summary billing options based on your preferences and financial management strategies, determining the best billing cycle to align with your cash flow needs. Easy-to-use online access and robust reporting features give you greater control and visibility into your business spending, enabling you to conveniently monitor transactions, set alerts, and access statements.

Applying for a First Pryority Bank Business Credit Card is straightforward. Download the PDF application from our website or pick up a paper application at your local branch office.

Additional Services

In addition to the traditional business banking services mentioned above, First Pryority Bank offers a comprehensive suite of additional business banking services designed to enhance efficiency, security, and financial management for businesses of all sizes. 

  • Cash Management, ACH & Wire Services- provide businesses with tools to optimize liquidity and manage cash flow effectively. ACH & Wire Services enable businesses to conduct electronic transactions quickly and securely, facilitating efficient payment processing and fund transfers.
  • Sweep Accounts- These are designed to maximize interest earnings by automatically transferring funds between a business’s checking and savings accounts based on pre-set thresholds, ensuring optimal cash utilization. 
  • Merchant Card Services- offer businesses the capability to accept various payment methods, including credit and debit cards, thereby enhancing customer convenience and expanding sales opportunities.
  • Remote Deposit Capture (RDC)- allows businesses to deposit checks electronically using a check scanner, eliminating the need to visit the bank and enabling same-day processing of deposits. 
  • Lockbox Services- streamline the collection and processing of receivables, improving cash flow and reducing administrative burdens by automating the deposit process.

First Pryority Bank also leverages innovative services like FedNow®, an instant payment infrastructure developed by the Federal Reserve. This service allows financial institutions across the U.S. to provide safe and efficient instant payment options, facilitating real-time transactions.

Positive Pay is a robust fraud detection service that helps businesses safeguard against fraudulent checks by allowing them to verify checks presented for payment against their issued check details. This service significantly reduces the risk of check fraud.

Additionally, First Pryority Bank offers Lines of Credit (LOC) to provide businesses with flexible access to funds for various needs, from managing short-term working capital to seizing growth opportunities. The LOC comes with competitive rates and terms, ensuring businesses can access the capital they need when they need it.

Overall, First Pryority Bank’s additional financial business solutions are designed to help businesses manage their finances more efficiently, enhance security, and facilitate growth through innovative financial solutions.

Why Choose First Pryority Bank for Business Banking 

At First Pryority Bank, we fully understand how important business lending and banking services are to your organization’s long-term success. 

We are committed to helping you accomplish your unique goals, regardless of what they happen to be. With our local, friendly service, we always take the time to learn as much as possible about your business so that we can offer the advice and support you, the business owner, need to thrive.

If you’d like to discuss your commercial banking or personal banking needs with someone in more detail, please don’t delay – contact the team at First Pryority Bank today, where you’re always our first priority.

Terms and conditions for account products may change at any time without notice. Please visit your local branch to find out Truth in Savings information and other account details.

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