Great River Federal Credit Union on Choosing a Credit Union for your Small Business
Monday, November 21, 2016
St. Cloud Times (November 21, 2016) - According to the 2012 census, small business enterprises accounted for 48 percent of the businesses in the United States. Those businesses need financial support, guidance and investments. Banks and financial institutions are crucial to a small business’ success – from that first loan to navigating growth and expansion.
“The best financial institutions for small businesses offer sustainable and meaningful partnerships within the communities they serve, with the goal being to create awareness, add value and simply help business owners succeed,” says Mary Jo Schepers, Business Development Manager for Great River Federal Credit Union (GRFCU) in St. Cloud. GRFCU is a community-driven, nonprofit organization designed to help new and expanding businesses find the resources they need to succeed in the Greater St. Cloud area and surrounding communities.
For many small businesses, their financial decisions begin with a loan, including the initial investment for start-up to potentially purchasing real estate or inventory. Things to look for? First, good interest rates.
“Our business loans are specifically designed with competitive rates, flexible terms, less fees and credit decisions are made locally and fast.” says Schepers. “We provide on-going personalized service following the loan process. We listen to your business needs and value our partnership.”
Personalized service is also critical. At GRFCU, business owners work with one individual to handle all of their business needs. Small business owners, especially those that may be new to entrepreneurship, will likely have a lot of questions. Owners can rely on one point of contact to guide them through their journey.
Where – and how – your business will function is a critical decision. Will you run it out of your home? Or, maybe you need a studio? Do you need warehouse space? What about equipment – cars, stoves, technology hardware?
“Any financial institution that supports small businesses needs to effectively offer a number of real estate and equipment financing options,” says Schepers. “From rental property to industrial space, we can finance your purchase or help you refinance an existing property at a lower rate than most banks.”
Small businesses quickly become invested in the communities they serve. And for Schepers, her role guiding businesses is the result of a 20-year career serving clients at GRFCU. So a business – and its success – feels personal to her.
“Your business is a partnership,” says Schepers. “Credit unions have a well-deserved reputation for superior service and being the kinder, gentler financial institution.
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