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Business

As a local commercial bank, State Bank of Townsend is devoted to the prosperity and growth of businesses in our community. Because we are locally owned and locally managed, all credit decisions are made right here — not at an out-of-state headquarters.  That means quick turnaround time on each loan application.  We offer many different types of loans with competitive rates and terms to meet the needs of corporations, partnerships and sole proprietorships.  Here is a sampling of some of the Business Loans we offer:

  • Business Real Estate Loans – We have options to help you purchase, renovate or build your building for your business including SBA 504 loan program.
  • Operating Loans and Lines of Credit – We work with you to select the correct option for you with the right repayment plan to help make your business a success.
  • Equipment – Let us help you purchase that next piece of equipment, new or used, to take your business to the next level.sba-logo
  • Small Business Administration (SBA) – State Bank of Townsend is an approved SBA lender. All loans must meet SBA criteria for a small business. Stop by or call to see if your business would qualify.

*All loans subject to credit approval*

BUSINESS CHECKING

We offer our Business Customers free Change orders with no advance notice, Night Depository Service located in our Drive-Thru with Lock Bags available. E-Statements available for all accounts!

Small Business Checking

$100 minimum opening balance * No minimum balance required after account opening
No transaction or service charges
Monthly No-Image Statements

Business Checking

$1,000 minimum opening balance
$1,000 minimum balance to avoid a service charge
$5.00 monthly service charge if the daily balance falls below $1,000 during the statement cycle
Monthly Image Statements

Business Interest Checking

$5,000 minimum opening balance
$5,000 minimum balance to avoid a service charge
$10.00 monthly service charge if the daily balance falls below $5,000 during the statement cycle
Monthly Image Statements
Interest paid at current checking rate 

Community Checking

For the benefit of our many non-profit organizations serving Broadwater County, we provide free checking with no minimum balance and free monthly image statements!

BUSINESS SAVINGS

Business Savings

$100 minimum opening balance
$100 minimum balance to avoid a service charge
$2.00 service charge if your daily balance drops below $100 at any time during the statement cycle

*Interest is paid at the Basic Rate

Business Money Market Savings

$2,500 minimum opening balance
$2,500 minimum balance to avoid a service charge
$5.00 service charge if your daily balance drops below $2,500 at any time during the statement cycle

* Interest is paid at the Money Market Tiered Rate

For any interest bearing account, please call customer service for current rates.