Best Business Bank in DC

2 Replies

Hello BP, 

I am interested in learning from investors what their preferred business bank is. My company is getting started in the DC metro area, and I want to know if others have a real estate friendly bank they use. We are set up as an S Corp and would like to set up a business checking account to separate our company and personal money. Also, does anyone look to use the same bank they have a business checking or savings account etc with to look for mortgages, business loans or lines of credit? Or are there certain banks better for each aspect?

I am thinking EagleBank, Bank of Georgetown, and BB&T as of now, but would like to hear from others before making a decision.

Thanks for your help,

Heath 

I use capital one. My "business" account with them is just a second checking account separate from my personal account.  If you set up an actual business account it will just subject you to a lot more fees.  There is no real advantage to having an actual business account.

I think your best bet will depend upon what you plan to do. Almost anyone can offer you a bank account. We use TD Bank for our business checking account. We had our personal account there already, so we could link them and avoid any maintenance fees. There is a branch near our house and another across the street from my office. When it comes to lending, we just used MECU to close on a 30-year fixed rate loan on a SFH rental property held in an LLC at 4.875%. We had talked to EagleBank, but they were not interested in financing single-family properties held in LLCs. They seemed very willing to help with 5+ unit multifamily.

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