A comprehensive look at our business banking services
We started in a single office and have since grown into our position as Utah’s community bank. We’re proud to have the name of our great state in our business name. Utah is a truly remarkable state brimming with opportunity, full of beauty and bursting with entrepreneurship. Our role at First Utah Bank is to provide first-rate banking services while serving as a pillar and supporter of our local community. We proudly give to charities all over Utah and support our community by helping people succeed financially.
Our primary product lines at First Utah Bank include both personal and business banking services. We offer personal checking accounts, savings accounts and debit cards. We also provide a full suite of business banking services for companies all over Utah. Utah businesses rely on us for their business checking accounts, business savings accounts, loans, and lines of credit. But we offer even more that. We’re finely tuned to meet the needs of local companies of all sizes. Let’s take a closer look at the comprehensive set of business banking services we offer, from Salt Lake City to Lehi.
1. Business Checking and Savings
Our banking principles are built upon a foundation of trust and transparency. And our primary goal is your success. One of the first steps any business must take to ensure they look and act like a proper business is to get a business bank account. Put simply, a Utah-based company with a business bank account simply looks more professional.
When you’re in business, image and reputation matter a whole lot. If you’re writing checks out of a personal account, that won’t help you win new clients and impress existing ones. It will make it appear as if you are only half-heartedly in business, or even worse – that you just started the business. That image doesn’t exactly convey strength or build confidence with customers and clients.
Conversely, a dedicated business account says that you are open for business. Your business name will appear on the checks and other payment methods, and your clients will feel at ease that you aren’t going anywhere. Business savings accounts allow you to move money into separate accounts when you need to. This helps you stay better organized and on top of your money.
2. Business Debit and Credit Cards
Your business is nothing without a bit of plastic. As a business owner, you have many choices when it comes to almost every aspect of your company’s finances. This is particularly true when it comes to choosing whether to manage your daily spending with a credit card or a debit card. Why would your business need a credit or business debit card?
Like personal credit cards, business credit cards offer you the ability to borrow money from the bank. In return, you promise to pay the balance off each month. Utah-based businesses of all sizes turn to First Utah Bank for their business credit and debit card services.
There are many types of credit cards that can be issued to your business, and each one offers different benefits. Standard credit cards extend a simple line of credit, whereas some credit cards offer cashback or rewards if you spend a lot of money on business expenses.
3. Lending, Merchant Services and Treasury Management
Businesses of all sizes sometimes require loans to stay afloat. This was especially true during the COVID-19 pandemic. Here at First Utah Bank, we were proud to offer PPP and other government-backed loans and grants to businesses who needed them. In normal times we offer standardized loans and lines of credit for businesses who need a little extra to get them through.
We’re also proud to offer merchant services for companies that sell products in person or online. We’ve partnered with Select Bankcard, a local, Utah-based payment processing company. Through this partnership, we’re able to provide quality merchant services to Salt Lake City businesses, and businesses throughout the US. We have solutions that allow you to accept electronic payments in retail outlets, restaurants, through the mail, on mobile, using checks, gift cards and so much more.
Finally, we provide treasury management services for companies who need assistance managing their financial portfolio. Treasury management services offer a system that performs the work of a treasurer. An individual who acts as a treasurer is the person who manages a company’s cash flow from the amount held to the liquidity. With this form of management, teams and departments can conduct daily operations since there is cash on hand. First Utah Bank provides treasury management services for companies who might not have the resources to hire their own treasurer.
Are you a Utah-based business ready to take your operation to the next level? Do you need business banking services you can count on in times thick or thin? It’s time to contact your friends at First Utah Bank, Utah’s premier community bank.