In the News
Local Bank Offering Credit To Small Businesses
Scotia, NY (February 24, 2010) - 1st National Bank of Scotia is still lending money and continues to offer business credit cards at a time when many providers are discontinuing the product or scaling back on available credit.
“We know our small business customers and are better able to respond to their credit needs by offering a low interest card with no annual fees. As a community bank we have a unique ability to develop relationships with our customers,” says 1st National Bank of Scotia President, John Buhrmaster. “By helping our business customers secure revolving credit, we are able to provide funds that are important to the daily operation of the small businesses that drive our economy.”
Small business credit cards enable owners to have complete oversight of expenses, from monitoring employee purchases to accurate record keeping. Business credit cards also provide convenient access to lines of credit.
1st National Bank of Scotia also provides merchant credit card services that allow small businesses to affordably accept debit and credit cards for purchases. “The ability to accept credit cards for purchases is critical for a small business in an era where plastic has become the consumers favored method of payment.” Buhrmaster notes. The acceptance of credit cards at a business has proven to increase sales, while at the same time providing the merchant protection from fraud or credit loss.
1st National Bank of Scotia offers a business credit card program in cooperation with the Independent Community Bankers of American (ICBA). By issuing its own card, 1st National joins over 1,700 community banks across the country that operate their own credit card programs.