HER VOICE BUSINESS Sarah Kinkeade Vice President / Business Banker Lakes Area Ask the Business Banker What is treasury management? Think of it as the solutions to assist businesses in transferring money swiftly and safely. This includes the ability to send wires through your online banking, set up fraud detection measures to protect the funds in your account such as positive pay for the checks you initiate or receive ACH payments and much more. I used my personal credit to start my business. Can I refinance that debt into business debt? When starting a business, owners often use their personal credit cards or loans. I would recommend meeting with a business banker that can help determine the best loan for you and your business. Your goals may be as simple as refinanc- ing your debt, but you may need additional funds if you are in growth mode and an SBA loan may be a better option for you and your business. Meeting with a banker can help navigate your options and find the right financing for your needs. What is the difference between a line of credit and a credit card, and how do I chose the one I need? Each option has a spending limit, with the payments fluctuat- ing based on what you have spent. A line of credit is designed for a specific business purpose, such as inventory purchases, and may offer better terms than a credit card. Accessing these funds can vary from moving funds to your business checking account via your online banking or even an automatic transfer to protect against overdrawn funds. A credit card typically has a lower limit and is used for day-to-day transactions. Some credit cards offer rewards for spending that can be enticing, but the terms tend to be less favorable. Paying your credit card to a $0 balance monthly can be a great way to earn rewards as well as provide everyday fraud protection on your purchases. I would recommend talking with your business banker about your cash flow needs and they can aid in deciphering which (or both) option is best for you! Frandsen Bank & Trust 7429 Excelsior Rd, Baxter, MN | 218.855.1320 35470 Co Rd 3, Crosslake, MN | 218.692.2455 What is the best way to communicate with my business banker? Phone? Email? In person? The best way to communicate should be what is best for YOU and your business! For a late-night question, email is a good option. For a quick answer, a call may be best. Time to grow your business? Then an in-person meeting may be in order. FRANDSEN BANK & TRUST B Member FDIC FrandsenBank.com HER VOICE BUSINESS Sarah Kinkeade Vice President / Business Banker Lakes Area Ask the Business Banker What is treasury management ? Think of it as the solutions to assist businesses in transferring money swiftly and safely . This includes the ability to send wires through your online banking , set up fraud detection measures to protect the funds in your account such as positive pay for the checks you initiate or receive ACH payments and much more . I used my personal credit to start my business . Can I refinance that debt into business debt ? When starting a business , owners often use their personal credit cards or loans . I would recommend meeting with a business banker that can help determine the best loan for you and your business . Your goals may be as simple as refinanc ing your debt , but you may need additional funds if you are in growth mode and an SBA loan may be a better option for you and your business . Meeting with a banker can help navigate your options and find the right financing for your needs . What is the difference between a line of credit and a credit card , and how do I chose the one I need ? Each option has a spending limit , with the payments fluctuat ing based on what you have spent . A line of credit is designed for a specific business purpose , such as inventory purchases , and may offer better terms than a credit card . Accessing these funds can vary from moving funds to your business checking account via your online banking or even an automatic transfer to protect against overdrawn funds . A credit card typically has a lower limit and is used for day - to - day transactions . Some credit cards offer rewards for spending that can be enticing , but the terms tend to be less favorable . Paying your credit card to a $ 0 balance monthly can be a great way to earn rewards as well as provide everyday fraud protection on your purchases . I would recommend talking with your business banker about your cash flow needs and they can aid in deciphering which ( or both ) option is best for you ! Frandsen Bank & Trust 7429 Excelsior Rd , Baxter , MN | 218.855.1320 35470 Co Rd 3 , Crosslake , MN | 218.692.2455 What is the best way to communicate with my business banker ? Phone ? Email ? In person ? The best way to communicate should be what is best for YOU and your business ! For a late - night question , email is a good option . For a quick answer , a call may be best . Time to grow your business ? Then an in - person meeting may be in order . FRANDSEN BANK & TRUST B Member FDIC FrandsenBank.com