Real Estate Agent · Fort Thomas, KY · Member since 2015 · 8 posts · 1 vote
Hi,
We were just curious if anyone has a good recommendation for a local bank or Credit Union for a business account and for possible investment loans? We would like to establish a relationship with one locally here in Northern Kentucky to deposit commissions and use with our Real Estate business, and eventually start an investment business with flips and rentals. I prefer a smaller bank that uses newer technologies and easy online banking. Thank you! Any suggestions, and/or good experiences help!
Rental Property Investor · Cincinnati, OH · Member since 2014 · 150 posts · 59 votes
10y
@Jacob Homan I'm a little late to the party, but wanted to throw in Valley Central Bank for you. The only drawback for them is that they only have two branches, located in Reading and Liberty Township. They are a small portfolio lender that was willing to take a chance on our company and loan us some money when many other banks wouldn't. We wound up moving most of our banking with them to gain more credibility with them. About 95% of our bank financing is thru them at this point. They have good mobile banking, where we deposit all of our checks via their app, and we use their Bill Pay to pay all of our vendors that don't take a credit card. It has worked great, and I've only had to physically go to the branch a few times so far this year.
Investor · Falmouth, KY · Member since 2016 · 37 posts · 13 votes
10y
I recently opened a business account with Heritage Bank. After researching fee's they were the best deal for my situation. They are fairly small and have locations in Boone, Kenton, Campbell, Pendleton and Grant counties.
I have banked with them for years but this is my first business account. So far, so good. It seemed the fee's associated with the big banks (i.e 5/3, USBank, etc.) were very high for a small business account.
Rental Property Investor · Cincinnati, OH · Member since 2014 · 150 posts · 59 votes
10y
@Jacob Homan I'm a little late to the party, but wanted to throw in Valley Central Bank for you. The only drawback for them is that they only have two branches, located in Reading and Liberty Township. They are a small portfolio lender that was willing to take a chance on our company and loan us some money when many other banks wouldn't. We wound up moving most of our banking with them to gain more credibility with them. About 95% of our bank financing is thru them at this point. They have good mobile banking, where we deposit all of our checks via their app, and we use their Bill Pay to pay all of our vendors that don't take a credit card. It has worked great, and I've only had to physically go to the branch a few times so far this year.