The Benefits of Supporting Local Businesses
Are you interested in supporting local businesses? Learn more about how your support makes a difference at local institutions like Hamilton Bank. February 12, 2019
While more people are growing aware of the benefits of shopping local at stores lining your town’s Main Street, many people don’t realize that banking local offers just as many benefits to the surrounding community. Supporting local businesses is a great way to ensure that the community you love continues to grow and thrive.
Support the Local Economy
Local institutions contribute more to your local economy than larger chains. Small businesses in the community often turn to local banks for financing. *Larger, chain banks only devote 18% of commercial loans to small businesses. Smaller, community-based banks devote over 50% of commercial lending to small businesses. When you bank local, you are directly supporting local businesses.
Since local banks are dedicated anchors to the communities surrounding them, they give back in a number of ways. From supporting local non-profits to employee volunteer efforts, local banks are committed to the health, prosperity and well-being of individuals and businesses in the surrounding area.
The Benefits of Big Banks without the Drawbacks
Hamilton Bank offers a full suite of personal, business and commercial banking products, including mobile banking and mobile check deposit. We offer top-notch, customer-centered service and go a step further to support our local communities. We form relationships with our customers, provide jobs to the residents in our community and give back. We are dedicated to being more committed and accessible. You’re never just a number at Hamilton Bank.
In addition, many of our banking services and products are on the same level as larger financial institutions. From checking and savings products to consumer and commercial loans. Why is that? Many bigger banks invest in regions throughout the country with the interest of making the most money. Local banks primarily function to provide productive investments to members of the local community for the benefit of that specific community.
Support Local Businesses with Hamilton Bank
At Hamilton Bank, we are committed to providing our personal, business and commercial banking customers with the best customer experience possible. If you are interested in learning more about our products and services, we are happy to help. For more information, visit one of our seven convenient Hamilton Bank branches or call us at 410-823-4510.
* ILSR, Why Small Banks Make More Small Business Loans, Feb. 2010, https://ilsr.org/banks-and-small-business-lending/