Business Banking Recommendations

searcher profile

August 18, 2023

by a searcher from University of Kansas in Seattle, WA, USA

Hi friends -

I'm under contract to acquire a business, and am trying to decide which bank to use post-acquisition. Does anyone have experience with bluevine? Or, do you have any recommendations?

The company has over 100 part time employees, and about 10 in the office.

The seller uses Bank of America currently.

Thanks!

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commentor profile
Reply by a searcher
from University of California, Berkeley in Minneapolis, MN, USA
Hey Scott, I was in the fintech world for a while and helped launch a neobank (our office was just a couple of blocks down the street from BlueVine). I knew some of the folks over a BlueVine and have nothing but good things to say about the people and the company. That said, I personally would not use a Silicon Valley-type bank. Things change too frequently in that world. You can create a lot of goodwill and trust with local lenders for future financing needs by establishing a deposit relationship early.
commentor profile
Reply by a searcher
from The University of North Carolina at Chapel Hill in Raleigh, NC, USA
I recommend picking a local bank. Nothing wrong with national or online focused but when things got tough and businesses went applying for PPP, it was local banks (and the relationships with bankers) that really came through quickest.
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