Here are three great reasons why that financial partner should be a community bank:

1.  Familiarity.  Your local bank has a deeper understanding of your business, your industry and your local economy.  Employees of a community bank, including the underwriters and branch staff that businesses typically deal with on a regular basis, tend to live in the same communities where your business operates.  As part of their application and underwriting processes, a fuller, more robust perspective on your business needs and challenges is ascertained.  With that perspective in hand, decisions are made locally, something that is not typical with larger financial institutions.

2. Collaboration = Improved Local Economy.  “Community banks and local businesses serve the same community – you’ll see them helping out with similar efforts like charitable giving, employee volunteerism and providing assistance to community members in need.”* At Rhinebeck Bank, we know that monies we lend to local businesses will provide exponential benefits.  Let’s use our Small Business Express Loan as an example of how this collaboration works.  With an Express Loan, a local business may purchase a piece of equipment that allows them to complete jobs more efficiently, allowing them to take on more projects and, ideally, create a need for new employees and/or stabilize existing jobs within their organization.  Business growth may lead to higher employee wages, and the potential increase in their discretionary income that results from a higher wage will likely be spent with other businesses in our community, donated to local non-profits and so on. 

3. Flexibility.  It’s understood that all financial institutions have guidelines when it comes to commercial lending.  Certain standards have to be met when it comes to determining how likely a potential business customer will be able to repay their loan obligation.  That being said, community banks offer a level of flexibility when it comes to decision making that regional or national banks may not be able to match.  Depending on the circumstances, some underwriting flexibility may be applied if other important criteria fall within the bank’s existing lending guidelines.  Regional and national lenders are typically more rigid with their loan underwriting requirements, with limited, if any, flexibility based on a business’ repayment history, financial records, growth projections, etc.

If you are a small business owner looking for a trusted local lender, please visit us online at or contact us today at (845) 454-8555, option 3 to learn how we can help you succeed and start saying “I Bank at Rhinebeck Bank” like numerous other Hudson Valley businesses!


Rhinebeck Bank.  Member FDIC.

*2018, July 24.  Smart Business.  “How banking locally benefits your business, the economy”.

Patrick Hickey

Marketing and Communications Coordinator