[kasia33]

I recently relocated to CT from MN with my family and we absolutely love it here! The cost of living is fairly comparable to the Twin Cities in MN, but the scenery and weather are unbeatable here.

I have a small business and up till now we've been banking with Wells Fargo, and although Wells Fargo is a great bank it's not really the best option for small businesses. I've been researching many different options but at this point my brain feels scrambled with all the banks to choose from.

For all you small business owners out there, which banks do you use and what are the pro/cons of them? I'll appreciate any input!
Thanks!

[CoolStrom]

HI Dear Friend,

Not sure where you live, but if you are living anywhere closer to Milford, where big retail is located, Milford Bank has created its own niche in Small Business Banking and i am not sure many people know about this..but i have a family friend who have gotten millions at a very good rate from Milford Bank for the upscale Hotel that was consutracted in Milford...I also know so many business owners from West Haven/Orange/Straftord going for Milford Bank..So keep that into consideration and good luck.

Thanks, CoolStrom

[JayCT]

Kasia33 - Welcome to Connecticut. You are correct in believing that Connecticut is similar to Minnesota in many respects (except for climate). you do not indicate where you will be living, so I will only give you some general recommendations. If you are interested in staying with a large national bank, Bank of America has a lot of branches here. They are probably the biggest in the state.

If you are looking for something a little more local, I would consider either Peoples United or Webster. Both are Connecticut banks with a lot of branches to service your needs. I believe both are good for small businesses. Banknorth also has a number of branches around the Hartford area. I also hear very good things about Rockville Bank which is small but has a number of branches east of the Connecticut River. We have used Liberty Bank in Middletown and they have been very good to us, so I can highly recommend them as well. Good luck.

[kasia33]

Thank you for your replies! I am indeed living near the Milford area so I'll look into all the suggestions. I remember reading some good things about the Milford bank before so this reinforces that, too. JayCT, do you know more about Webster Bank? So far the only interaction we've had with them has not been very good in terms of customer service (my father opened a personal checking account with them), but I don't want to write them off based on one incident. Thanks!

[mels]

My company is a small business and we use Webster. Never had a problem with them at all.

[JayCT]

I have dealt with Webster on a few things and have had no problems. If you want to stay with a smaller bank and have no need for a state-wide bank branch system, then I would consider Milford Bank. I have always had good service from Peoples, both personally and in business. Jay