There are some important things to know when setting up a new bank account for your small business. 

Iesha Vaughn, the Banking Center Manager for the Avondale Meadows First Merchants Bank branch, says properly setting up an account will help your company prosper. She says talking about finances can be difficult, and that’s why it’s important to find a banker you can trust.  

Vaughn also cautions her customers not to commingle their funds. She says to know the difference between personal and business funds and keep them separate. This makes tracking spending easier and helps them stay out of financial trouble at the end of the year. 

In addition, Vaughn says knowing your credit score is critical. Business owners need good credit to secure loans and capital.  

Vaughn says it’s important to ensure your company has an EIN and register your business with the local Secretary of State office. This will make setting up a business banking account easier and prevent legal headaches.  

First Merchants says, “Our team focuses on serving your business by providing you with the attention you deserve and adapting to your needs. Our bankers are here when you need them.”

Explore personal banking at First Merchants by visiting https://www.firstmerchants.com/personal/banking.  

Explore commercial banking at First Merchants by visiting https://www.firstmerchants.com/commercial/commercial-bank-accounts.