Why would a business choose a state bank over a national bank?
(1 point)
O Local banks are required to be FDIC insured.
O The business plans to expand into other regions.
O The business works with a lot of local customers.
Local banks usually have the lowest interest rates.
The business works with a lot of local customers.
Local banks typically have a better understanding of the local market and community, making it easier for businesses with a strong local customer base to build relationships and access personalized services. Additionally, local banks are often more flexible and willing to work with small businesses, offering more customized solutions tailored to their specific needs.