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Starting a Small Business

Start A Small Business In Indiana With Confidence

Starting a business can often be intimidating — you don’t know what you don’t know. Our experienced team can help you build your financial foundation and navigate the unknown.

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Explore Small Business Services & Products

We’re more than just a community bank. Consider us your business partners — we help entrepreneurs lay the groundwork and achieve their goals through personalized products and world-class services.

Loans & Lines of Credit

Fulfill your capital needs with our robust suite of products and services. 

Payment Solutions

Support every customer’s preferred payment method.

SBA Loans

As a small business, you have options. Learn more about SBA loan offers.

Starting A Business FAQs

Even if you aren’t immediately applying for financing, it’s wise to create and follow a plan. Think of your business plan as a roadmap for your company — it requires you to think through initial challenges while simultaneously directing you toward specific milestones and goals.  

An Employer Identification Number is a unique nine-digit number administered by the Internal Revenue Service that’s used to identify a business entity1.  In many cases, businesses need to have EINs, however, there are situations in which it’s not necessarily required. For instance, if you operate as a sole proprietor, an EIN may be optional2

Business owners should open separate bank accounts for their businesses. For starters, it helps establish your business as a legitimate operation in the eyes of the IRS — versus a hobby. Moreover, distinguishing between your personal and company transactions can prevent unnecessary headaches during tax season1

Depending on the initial needs of your business, you may be able to cover startup costs via personal assets, outside investors, and/or crowdsourcing. Naturally, it’s easier to fund a low-overhead venture, such as one that operates primarily online, rather than a capital-heavy one, such as a restaurant.  If your business hasn’t made money yet, it may be difficult to get a loan.  However, you may be able to lean on your personal credit scores to secure a credit card in the meantime, although that will vary by lender. You also may be able to take advantage of SBA programs designed to provide support to new businesses. As a new business owner, you’ll have to decide between cash-basis and accrual-basis accounting. Cash-basis accounting is widely regarded as the most straightforward method, while accrual-basis accounting provides a clearer, more reliable view of your financial performance. With that in mind, it’s important to speak with an accountant and financial professional about the right accounting method for your business. 

Related Solutions

Manage Your Business

Discover ways to optimize your operations with the latest financial solutions. 

Online & Mobile Banking Solutions

Find convenient digital products and services to streamline your finances.

Savings Accounts

Start setting funds aside with our Small Business Savings Account.

Checking Accounts

Manage cash flow efficiently with our MyBiz and MyBiz Plus Checking options.

Meet Our Team

Consider Centier’s small business banking team an extension of your operations — when you bank with us, you gain an experienced, local partner whose primary goal is to help you succeed. See for yourself what makes Centier the business bank of choice in Indiana. Contact a small business banker near you today.

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