If you’re like most business owners, you’re working around the clock trying to ensure your business gets off the ground and then continues to prosper and grow. You’re responsible for every facet of the success of the business, and you appreciate products, services and support that reduce costs, create time efficiency, and improve security.

Investments in product development and you

Chelsea Groton Bank understands the challenges business owners face daily, and has recently launched a suite of new products, services and technology enhancements designed to further enrich the bank’s extensive business banking offering, and improve efficiencies for businesses when they launch and as they grow. The introduction of the business banking enhancements is a reflection of the bank’s commitment to provide extraordinary customer service, which includes being able to evolve product and service offerings to meet the ever-changing needs of businesses of all sizes.

“Chelsea Groton Bank has made great investments in product development and technology in order to best serve the needs of the businesses in our communities,” said Michael Rauh, President and CEO of Chelsea Groton Bank. “Not only do we have a new suite of products and services, but we have a well-trained team who is committed to visiting businesses to train them on each of our offerings. This hands-on approach is part of our ongoing commitment to work with customers every step of the way, and to grow with the changing demands of our business customers.”

The new suite of checking and sweep accounts for businesses, municipalities and non-profits, enables organizations to easily change account features and add services as they grow and evolve without having to pay for features that are not yet appropriate. By eliminating the need for a business to get new account numbers and cards, and by omitting certain fees and qualifications, Chelsea Groton is giving businesses the opportunity to grow without being penalized or inconvenienced.

“We’ve been working to expand our business offering for some time now. Over the last several months, we’ve introduced a range of cash management products and services to help business owners better manage the financial side of their business in convenient, secure ways,” said Alex Masse, VP, Cash Management Services Manager. “Online banking for business enables business owners to make deposits, transfers and pay bills online using services such as Remote Deposit Capture, ACH Origination and online bill pay. In addition, through the use of business entitlements within the online banking system, business owners can manage the ability of employees to perform some or all of the functions.”

“An improved offering of credit, debit and rewards cards are now available to assist businesses in managing their accounts payable,” Masse continued. “Our lockbox services eliminate the burden of accounts receivable processing so business owners can focus on the success of their business instead. And now, we’re able to provide businesses with checking and sweep accounts that are designed to support financial growth.”

Positive Pay, a fraud mitigation service, is scheduled for implementation by mid-summer and will provide protection against check fraud activity by monitoring checks processed for payment. This important service enables businesses to reject unauthorized transactions before losses occur.

A growing team to support your growing needs

In addition to expanding product and service offerings, Chelsea Groton has also cross-trained additional team members so that representatives from the Bank’s neighborhood branches are now able to provide businesses with guidance in reviewing and opening the accounts that will prove most beneficial to their business’ specific size and needs.

Chelsea Groton also continues to expand its commercial lending team, with loan officers located throughout New London County and now in Hartford County. The Bank was named a Preferred Lenders Program lender by the Small Business Administration at the close of 2015. This designation allows the Bank to provide a more streamlined loan application process to members of the business community seeking financial assistance. In addition, Chelsea Groton continues to offer term loans, commercial real estate mortgages and construction loans, working capital revolving lines of credit, and more.

Visit chelseagroton.com for more information about the Bank’s expanded offering of business products and services.

About Chelsea Groton Bank

Based in Groton, Conn., Chelsea Groton Bank is a mutually owned bank with 14 locations throughout New London County and a Loan Production Office in Hartford County. The Bank has over $992 million in assets and serves businesses, individuals and families throughout Connecticut and Rhode Island. Member FDIC. Equal Housing Lender.