Starting or managing a business is an exciting venture.  To help with your company’s growth, it’s important to establish a relationship with a trusted, experienced banker.  Your banker should understand your industry, the local economy and have the financial savvy to give you recommendations.

When starting a business, your first step is to develop a business plan. This plan outlines your company vision and the strategies you’ll incorporate to achieve that vision.  It is a detailed document that will serve as a communications tool with bankers, investors and employees. Local colleges and small business development centers can help you.  They have advisors that can counsel you on the best way to launch your business.

In addition, we partner with government agencies that provide low cost loans. Programs include the Small Business Administration (SBA), Pennvest, PIDA, as well as the varied state programs administered by North Central Pennsylvania Regional Planning and Development Commission.  Visit their websites for contact information.

The types of loans you may need are either a term loan, commercial real estate loans or a working line of credit. A term loan means a fixed rate for a fixed period of time. This type of loan is generally used for equipment, start-up inventory or large purchases.  We also offer commercial real estate loans, in case you want to buy property.  Another loan option is a working line of credit.  A working line of credit is similar to a credit card, allowing you to borrow funds as you need them. The payment varies depending upon how much you borrow. 

At Clearfield Bank & Trust Company, we tailor loans to your company’s needs. This means we can provide more flexible payment terms to help with your cash flow.  Loan decisions are made locally and communicated in a timely manner, so you’re not waiting for weeks. The proven experience of our knowledgeable Business Advisors can be a major asset to your business.

In addition to loans, you will need a way to efficiently manage your finances.  We have checking account options that can meet the needs of a small business or large corporation.  In addition, there are services such as a Sweep Account, which sweeps excess checking funds into an interest bearing account.  You can also bank online, 24 hours a day with Online Business Banking. You can check your balances, transfer funds and pay bills.  In addition, we offer Remote Deposit Capture, which allows you to deposit checks from your office saving time driving to the bank.  We also provide payment convenience and quicker access to your funds with merchant card services.

In addition to the many options we have to help set up your business also keep us in mind for other area's of need when preparing to start a business such as Retirement Planning, Employee Benefit Checking and Health Accounts. Regardless of whether your business is new or established, Clearfield Bank and Trust has the proven experience to help your business succeed.   We welcome the opportunity to meet with you.   At no obligation, we can review your banking relationships and maybe save you money. 

For more information we invite you to contact Glen Fisher at 888-765-7551 with your questions.