Small business banking 101: your guide to essential accounts in Omaha and the Twin Cities

Optimize your small business with right-sized accounts and financial tools for payments, liquidity and lending.

Small business is hyper-competitive (especially in growing areas like Omaha, Minneapolis and St. Paul) and having best-in-class financial tools is critical for initial and ongoing success. You’ll want a few core accounts to get started and additional services that can meet your needs as you grow. And the banking partner you choose should check every box — from checking and savings to fraud protection and treasury management. We know you’re busy, so let’s dive in. 

Separating your personal and business accounts

Business accounts are integral to effective financial management. The right combination of accounts and services can:

• Establish credibility. Business bank accounts enhance your professionalism, instilling confidence in clients, customers and suppliers.

• Make accounting easier. From tracking payments and income to automating payroll, business banking services are designed to simplify managing your financial records and filing taxes. 

• Facilitate payments. Business accounts enable seamless payment collection and bill payments through checks, ACH transfers and online banking. 

• Gain access to additional services. As you grow, you may need loans and lines of credit, merchant services, business credit cards and more. Having a business bank account establishes a banking relationship and makes it easier to access these services when needed. 
• Ensure compliance. Maintaining a separate account helps legally distinguish your business entity from personal finances.
• Protect personal assets. Keeping business funds separate adds a layer of security, safeguarding personal assets in the event of legal issues.
  
  

Small business bank accounts to help you do more

Larger businesses with more complex accounting may have several—or even dozens—of accounts to manage their finances and organize their cash flow. Small businesses can also benefit from having both a business checking account and a business savings account.

Businesses typically need a checking account for day-to-day transactions, including paying bills and employees and receiving payments. Additionally, savings accounts can provide a designated place to accumulate funds for future plans, periods of low cash flow or unexpected expenses, allowing you to earn interest on surplus cash. Having both accounts helps businesses manage cash flow while building and maintaining a financial cushion. 

Business checking accounts

Business checking accounts serve as the hub for day-to-day financial management, including bill payments and customer transactions. They offer easy access to funds through checks, debit cards and online transfers.

At American National Bank, we provide various Business Checking Accounts tailored to your needs:

• Basic Business Checking: No minimum monthly balance required, ideal for businesses with lower transaction volumes.
• Business Value Checking: A cost-effective option requiring a $300 minimum balance.
• Business Focus Checking: For a low $35 monthly fee (waivable with a balance of over $35,000), this account includes value-added services like Remote Deposit Capture and ACH Processing.
• Premier Business Checking: Designed for businesses with higher activity, offering earnings credits to offset service fees.

Savings accounts

Whether for separating funds or creating a financial cushion, business savings accounts are invaluable. They allow you to earn interest on surplus cash while keeping funds accessible.

Our Business Savings Accounts include:

• Select Business Savings: A low-minimum-balance account with competitive rates, requiring only $100 to open.
• Business Money Market Accounts: Enjoy no maintenance fees and attractive interest rates with a $2,500 minimum balance.

We also offer employee-sponsored Health Savings Accounts (HSAs) for businesses providing high-deductible health plans, helping manage medical expenses while allowing employees to earn interest.

Finance your business growth with capable lending solutions

Whether you need to cover startup costs, fund expansion, or manage ongoing cash flow, there are numerous options to finance your next step. 

Common small business lending options

• Commercial real estate loans: Secure funding to acquire or improve property for your business or investment purposes.

• Commercial and industrial (C&I) lending: Finance equipment purchases, expansion projects, and working capital needs.

• Small Business Administration (SBA) Loans: Ideal for startups and small businesses, SBA loans offer lower interest rates and longer repayment terms. We’re a preferred SBA lender, providing various options:
  • SBA 7(a) Loans: Funding for a range of business expenses, including expansion and equipment purchases.
  • SBA 504 Loans: Financing for long-term assets like real estate and equipment.
  • SBA Express Loans: Quick approvals for smaller loans and lines of credit.

Thanks to government backing, SBA loans often require down payments as low as 10%, making financing accessible for many small businesses.

Streamline day-to-day business banking

Beyond accounts and loans, additional banking services can help you manage operations effectively.

Liquidity Management Tools

• Zero Balance Accounts (ZBAs): Organize cash inflows and outflows, simplifying accounting and monitoring expenses.
• Line of Credit Sweep: Automatically transfer excess funds from your main operating account to reduce interest expenses on your line of credit.
• CDARs: Invest large sums in Certificates of Deposit across multiple banks while maintaining FDIC insurance coverage.
• Insured Cash Sweep (ICS): Manage large deposits by spreading funds across multiple banks for full FDIC insurance coverage.

Treasury Management Services

• Payables: Efficiently process employee paychecks, pay bills and receive ACH payments.
• Receivables: Use Lock Box and Remote Deposit Capture (RDC) for secure payment collection and processing.
• Merchant Services: Accept credit, debit and digital wallet transactions in various formats—online, in-person or by phone.

Digital Banking

Leverage technology to manage finances anytime, anywhere. Tools like ANB Go Business (our digital banking platform) provide access to account balances, fund transfers, loan information and real-time transaction reporting.

Choose a community bank with a history of strength 

The bank you choose to support your small business is equally important. At American National Bank, we’re deeply rooted in the communities we serve. We live and work where you live and work. Your success is our mission, and we deliver the personalized service and expertise that businesses trust year after year.

ANB launched in 1856 (we were a small business once, too). Today, our longevity is a testament to our ongoing commitment to sound banking and safeguarding client assets. With a reputation for stability and strength, we can offer your small business the dependability needed in a banking partner.