Business Banking

For your business banking needs, work with Citizens State Bank in Roseau, MN, where you receive all-in-one financial services. Open a checking or savings account, apply for a business loan or line of credit, and set up direct deposit for your employees all with one local bank. We care for our customers and ensure you are set up with the proper accounts and necessary loans for your business success.

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Business Checking & Saving

	Prime¹	Regular	Access	Savings
Minimum to Open	$100	$100	$1000	$50
Minimum Daily Balance	$0	$0	$1000	$0
Monthly Service Fee	None	None	$10*	$1*
Interest Bearing	Yes	No	Yes	Yes
Refund ATM Fees	Yes	No	No
eStatements/Paper Statements²	eStatement Only	Both	Both	Both

1 – To earn the higher interest rate for this account, you are required to have 15 debit card transactions, have one direct deposit or ACH withdrawal, have a valid e-mail address, and accept an electronic statement. If these requirements are met during the monthly qualification cycle, ATM fees incurred Nationwide during the monthly qualification cycle will be reversed and credited back to your account. The maximum ATM fee refund per monthly qualification cycle is $20. ATM fees of $4.99 or less will be reimbursed up to a maximum of $4.99 per individual transaction. ATM fees of $5.00 or higher will be reimbursed if the appropriate ATM receipt is presented to a representative at our bank. ATM withdrawals do not count as qualifying debit card transactions for purposes of earning rewards within this account.

2 – Paper Statement Fee: $2.00 (eStatements are provided at no cost).

* – If daily balance falls below the minimum balance required to open that account.

Direct Deposit

Direct deposit is a convenient way to pay employees. It’s a quick way for employees to get paid without picking up a check and taking it to the bank, and saves you the hassle.

Advantages of Direct Deposit

No paper checks to lose or damage.
No making a trip to the bank to deposit a paycheck.
The money is usually in the employee’s account on the morning of payday.
Direct deposit can help employees save more money. Many employers offer the ability to split the pay among more than one bank account if the employee chooses (For example: checking, savings, or retirement accounts).

Monthly Fee: $25

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Business Loans

Being members of the community ourselves, Citizens State Bank is here to help our local businesses grow. Whether your business needs funds for day-to-day operations, expansion, cash flow, or other business needs, we can design a financing plan that works for you.

Operating Loans/Lines

Operating loans allow you to borrow money as needed to cover operating costs, such as payroll, inventory, and other day-to-day expenses. Whether you’re a small business owner looking to expand or a larger organization needing working capital, an operating loan or line of credit can help you maintain cash flow.

Equipment Loans

With an equipment loan, you can purchase or upgrade the equipment you need to keep your business operational without running out of capital. These loans typically have fixed repayment terms and interest rates, and the equipment typically serves as collateral.

Real Estate Loans

Real estate loans can be used for property purchases or construction or renovation projects and are often customizable. They usually have long repayment terms and low interest rates, making them a good option when looking for business real estate investments.

Letters of Credit

Letters of credit are used to facilitate international trade transactions and serve as a guarantee from a bank to a seller that the buyer will make payment for goods or services on time and in full. It provides security and assurance to both the buyer and seller, lowering any potential risks and ensuring trust between all parties involved.

Inventory/Accounts Receivable Loans

Inventory and accounts receivable loans enable businesses to access working capital based on the value of their inventory and outstanding customer invoices. Inventory loans allow businesses to borrow against the value of their stock to cover operational expenses. Accounts receivable loans provide businesses with immediate access to the funds tied up in outstanding invoices. These types of loans are beneficial for businesses with seasonal income.

Small Business Administration Loans

Small Business Administration (SBA) loans are a type of financing provided by approved lenders in partnership with the U.S. Small Business Administration. These loans support small businesses in various stages and offer agreeable terms and lower interest rates, providing small businesses with easier access to necessary funds.

Ag Loans

Agriculture makes the world go round. At Citizens State Bank, we work with local farmers to create financing packages so they can make the purchases they need to keep their farms operating and growing. Whether you need financing for daily operating expenses, machinery, livestock, building, or land purchases, we can tailor an ag loan to your specific needs.

Farm Operating Line of Credit

Get access to cash when you need it. A farm operating line of credit is available to help finance the day-to-day needs of your farm, such as purchasing seed, chemical, fertilizer, utilities, repairs, wages, or other supplies. These loans offer flexible financing options and multi-year terms to fit your specific needs.

Farm Term Loan

When you need to upgrade your farm’s technology, replace old equipment, or purchase livestock, Citizens State Bank is available to help you get the financing you need. Reach out to us when you need to make a large purchase in order to upgrade your farm’s capabilities. Receive the financing you need with our team. We can help you get started on your application right away!

Farm Mortgage Loan

As a small town bank, our team lives in the area and is motivated to help local people achieve their goals. Anything is possible, and we are available to provide flexible financing to purchase or refinance tillable farmland or construct or purchase new buildings and facilities at your farm. Whether you are farming part-time or full-time, financing is possible.