Small Business Banking Solutions in Middle TN
F&M, a Lawrence Bank combines local expertise, digital convenience, and tailored solutions to deliver the best small business banking experience. Whether you operate a side-hustle or manage multiple entities, our modular solutions and dedicated team are ready to help you grow.
Everyday Business Checking
F&M offers three types of accounts for everyday business checking, designed to meet the needs of businesses at any stage.
Smart Free Business Checking
Perfect for startups and small businesses looking for cost-effective banking.
- No monthly fee
- 1,000 free transactions per month
- Free Business Online Banking & Bill Pay and VISA® debit cards
- Open with just $50 and no minimum balance requirements
Choice Business Interest Checking
Ideal for sole proprietors, nonprofits, and government entities seeking interest earnings.
- Tiered interest for sole props, nonprofits, and governments
- 1,000 free transactions per month
- $8 fee waived with a $2,500 minimum daily balance
- $50 opening deposit
Commercial Checking
Built for high-volume companies with complex banking needs.
- Designed for high-volume companies
- Unlimited items—earnings credits can offset per-item charges
- $15 monthly fee (fully or partially offset by balances)
- $50 opening deposit
Business Savings & Money Market
For increased returns and variable interest rates, F&M offers two types of business savings accounts to complement your checking account.
Business Savings
A simple solution for building reserves with easy access.
- Competitive variable rate tied to your balance
- Unlimited deposits; six withdrawals per quarter
Business Choice Money Market
Maximize returns on higher balances with flexible access.
- Higher balances earn higher interest
- Unlimited deposits plus flexible access to funds
When you pair a business checking account with a savings account, you create a simple foundation for managing cash flow, reserves, and planned tax payments.
Certificates of Deposit (CDs)
Lock in predictable returns on terms from 3 to 60 months. CDs are ideal for reserve funds, project escrows, or long-term investments. Note that early withdrawals may incur penalties.
A certificate of deposit can be one of the best small business banking tools you can have at your disposal. Contact F&M to discuss our variable CD interest rates with a qualified teller.
Treasury Management Solutions
Our Treasury team can bundle two to four services for discounted pricing or offer any tool à-la-carte:
- Information Reporting: Real-time dashboards and customizable alerts
- Cash Management Sweeps: Credit-Sweeps that automate excess-balance transfers
- Receivables: ACH debit origination, Remote Deposit Capture, Merchant Card Services
- Payables: ACH payroll, online domestic/international wires, purchasing cards
- Fraud Protection: Positive Pay and ACH Block to stop unauthorized items before they post
Digital & Mobile Banking
F&M Bank offers extensive digital and mobile banking services for all business account holders:
- Business Online Banking: Pay bills, move money, and view balances in one secure portal
- F&M MobileBiz! App: Face ID login, mobile check deposit, and on-device approvals
- Direct Connect for QuickBooks/Quicken: One-click downloads and automatic reconciliation
Other Business Services
With an F&M business account, you have access to a whole range of other services, including:
- Merchant Card Services: Accepts all major cards and mobile wallets
- Remote Deposit Capture: Scan checks from your office for faster credit
- Night Depository: Secure 24/7 drop-boxes at every branch
How to Get Started
Opening a business account with F&M is straightforward:
- Gather Documentation: EIN, formation papers, and driver’s licenses for every 25% owner or controlling manager (per Federal Beneficial Ownership rules).
- Apply Online or In-Branch: Our bankers walk you through how to open a business bank account and choose the right mix of services.
- Fund & Activate: Bring at least $50 to open, enroll in Business Online Banking, and set user permissions.
Frequently Asked Questions About Small Business Banking
What documents are needed to open a business account?
You’ll need an EIN, formation papers, and driver’s licenses for owners with 25% or more ownership or controlling managers, per Federal Beneficial Ownership rules. Contact a local branch for specifics.
Are there fees for business checking accounts?
Smart Free Business Checking has no monthly fees. Choice Business Interest Checking waives the $8 fee with a $2,500 daily balance. Commercial Checking’s $15 fee can be offset by balances. See our fee schedule.
Can I access my accounts online or via mobile?
Yes, all accounts include free Business Online Banking and the F&M MobileBiz! App for secure, 24/7 access.
What are the benefits of pairing a checking and savings account?
Pairing accounts helps manage cash flow, build reserves, and plan for tax payments with competitive interest rates and flexible access.
Are CDs subject to early withdrawal penalties?
Yes, early withdrawals from CDs may incur penalties. Contact a local branch for details on specific terms.
Ready to Kick-Start Your Business Banking with F&M?
From checking and savings to CDs and treasury management, our qualified business banking specialists are here to guide you. Call 931-645-2400, visit a branch, or request a Treasury consultation to find the perfect solutions for your business.
Contact a Local Branch