Flexible Financing for Small Businesses

Operating a small business is just as rewarding as it is unpredictable. You never know when you will need a loan, maybe an emergency arises or you’re aiming to break into a new market. So it’s important for small businesses to work with a bank that can provide financing at any time during the year.

While some financial institutions find themselves seasonally constrained in providing loans, Choice Bank continues to thrive and offer financing year-round. What sets us apart is our robust and diverse deposit base, a key factor in our ability to support businesses in any economic climate.

Diversity in Assets: The Backbone of Choice Bank’s Stability

Our unique strength as a bank lies in our dual identity as both a traditional bank and a Banking-as-a-Service division. This combination not only sets us apart in the market but also contributes to a more resilient deposit base. In an environment where other banks might struggle, we can maintain our lending capacity due to the diversity in our asset portfolio. This diverse foundation allows Choice Bank to be a reliable partner for businesses, ensuring you have access to the financing you need, whenever you need it.

Tailored Financing for Every Business

Recognizing the uniqueness of each business, we take pride in offering customized financing solutions.

“Whether a business aims to break into a new market, expand its factory, or grow its main street presence, we have positioned ourselves as a dedicated business partner,” said John Hicks, Choice Bank SBA Development Officer. “Our commitment goes beyond just providing loans; it involves working alongside clients to ensure they have the necessary resources for success.”

By fostering a collaborative approach, we strengthen not only individual businesses but also the communities they serve.

SBA Recognition: A Testament to Excellence

Our commitment to small business financing is underscored by our impressive track record and recognition from the Small Business Administration (SBA). In North Dakota, Choice Bank holds the top spot for 7(a) loan units, demonstrating an unparalleled dedication to supporting local businesses. In Minnesota, we rank eighth based on the number of SBA loans originated and twelfth by loan volume, further solidifying its role as a vital player in the state’s small business community.

Benefits for Choice Bank Customers

The acknowledgment as a top SBA lender brings tangible benefits for our customers:

• More Access to Capital: Small businesses often face hurdles in securing financing through conventional means. Our status as a top SBA lender translates into increased access to capital for businesses that might otherwise struggle to secure loans through traditional channels.
• Supporting Growth for Existing Clients: Our commitment extends beyond loan offerings. Recognized as a top SBA lender, we are better equipped to support existing clients in their expansion plans and financial needs, fostering a mutually beneficial relationship.

Efficiency Through SBA Preferred Lender Status

Our achievements go beyond accolades; they reflect our efficiency in serving customers. As an SBA Preferred Lender, Choice Bank offers:

• Faster Response Times: The ability to approve, book, and service loans independently leads to significantly faster response times. By eliminating the need to send every loan application to the SBA for credit decisions, we ensure a streamlined process, helping businesses secure funding promptly.

Choice Bank’s recognition as a top SBA lender in North Dakota and Minnesota showcases not only our dedication to supporting small businesses but also our ability to do so efficiently and effectively. As the bank continues to grow, we remain steadfast in our commitment to providing unique and tailored financing solutions for businesses, contributing to the economic prosperity of communities at both local and national levels.

Every small business is unique, and so is our financing. At Choice, we work alongside our clients, ensuring they have the necessary resources to succeed. We’re ready to be your business partner and we support your success. Learn more about small business loans at Choice here!