Colorado’s business landscape is as dynamic as its mountains—whether you’re running a startup in Denver, a retail shop in Boulder, or a family business in Pueblo, the right bank can help your business thrive. Let’s break down your best options and make it easy to compare, switch, and save.
See How Colorado Compares Nationwide
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Explore all state-by-state business bank rankings to see the top picks for small businesses across the U.S.
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Why More Colorado SMBs Are Choosing Holdings
Zero fees, no minimums: Keep more of your hard-earned cash.
High APY (up to 3.0%): Make your money work as hard as you do.
Integrated accounting & bookkeeping: Spend less time on admin, more time on growth.
$3M FDIC insurance: Sleep easy knowing your funds are protected.
See all features and open your Holdings account today.
The 10 Best Banks for Small Businesses in Colorado
#1: Holdings (Best for Digital-First Banking)
Holdings is a top-tier choice for small businesses seeking a digital-first banking experience. With no account fees, no minimum balances, and tiered APY rates that grow with your deposits (up to 3%), Holdings empowers businesses to maximize savings while enjoying seamless financial management.
Pros:
$0 account fees and no minimum balance requirements
High APY rates: 1.5% ($50K-$250K), 2% ($250K-$1M), 3% (over $1M)
Free ACH transfers and domestic wires
Allpoint ATM network access with no fees
Cons:
No physical branches for in-person banking
Limited cash deposit options
Verdict: Holdings is ideal for tech-savvy entrepreneurs who prioritize cost-efficiency and advanced digital tools.
#2: Bank of Colorado (Best for Local Support)
Bank of Colorado offers personalized service and specialized loans, including agricultural financing. Its Business Relationship Account provides robust features like tax payment tools and low-interest loans.
Pros:
Tailored loans for agriculture and small businesses
Built-in tax payment tools
Strong community support
Cons:
High balance requirements to waive fees
Limited free transactions
Verdict: Great for businesses needing local expertise and industry-specific solutions.
#3: Chase (Best for Built-In Payment Processing)
Chase’s Business Complete Banking® account includes QuickAccept®, allowing same-day deposits from card payments. It’s perfect for retail or service-based businesses.
Pros:
Integrated payment processing with QuickAccept®
Generous new customer bonuses (up to $500)
Extensive branch and ATM network
Cons:
Monthly fees unless waiver conditions are met
Low savings interest rates
Verdict: A strong choice for businesses that rely on credit card transactions.
#4: Wells Fargo (Best for SBA Loans)
Wells Fargo is one of the nation’s top SBA lenders, offering comprehensive business services under one roof.
Pros:
Top SBA lender with favorable loan terms
Extensive branch network across Colorado
Multiple business checking options
Cons:
Numerous banking fees
Low APY on savings accounts
Verdict: Ideal for businesses seeking capital through SBA loans.
#5: Bluevine (Best for High-Yield Checking)
Bluevine combines no-fee checking with a competitive 1.5% APY on balances up to $250K. It’s designed for online-first businesses.
Pros:
No monthly fees or transaction limits
High APY on balances
Seamless integration with accounting software
Cons:
Limited cash deposit options
No physical branches
Verdict: Perfect for digital-savvy entrepreneurs who want to earn interest on their funds.
#6: Community Banks of Colorado (Best Customer Service)
This regional bank offers five business checking accounts tailored to various needs, along with excellent customer service.
Pros:
Flexible account options
Industry-specific financial solutions
Strong community focus
Cons:
Limited branch locations
In-person applications required
Verdict: Best suited for businesses that value personalized service.
#7: FirstBank (Best Regional Bank)
FirstBank provides straightforward business banking with no monthly fees on basic accounts and robust online tools.
Pros:
No monthly fees on entry-level accounts
Strong regional presence in Colorado
User-friendly online banking
Cons:
Limited advanced features on basic accounts
Verdict: A reliable option for startups or small-scale operations.
#8: U.S. Bank (Best National Bank with Free Checking)
U.S. Bank offers free business checking along with nationwide accessibility, making it a solid choice for growing enterprises.
Pros:
No monthly fees on basic accounts
Nationwide branch access
Comprehensive business services
Cons:
Limited free transaction volume
Verdict: Ideal for businesses needing both local and national support.
#9: Canvas Credit Union (Best Credit Union Option)
Canvas Credit Union offers fee-free checking accounts with competitive interest rates, making it a great option for startups.
Pros:
No monthly maintenance fees on basic accounts
Interest-bearing options available
Strong local presence
Cons:
Limited branch network outside Colorado
Verdict: A cost-effective solution for small businesses looking to save on fees.
#10: Lili (Best for Sole Proprietors & Freelancers)
Lili provides free checking with built-in tax optimization tools, making it ideal for freelancers or sole proprietors managing irregular income streams.
Pros:
Free account with no hidden fees
Automatic expense categorization and tax tools
Unlimited ACH transfers
Cons:
Limited features beyond sole proprietorship needs
Verdict: A niche solution tailored to independent contractors and freelancers.
Comparison Table
Bank | Monthly Fee | Min Deposit | Min Balance | Transaction Limits | ATM Access | Mobile App Rating | Branches in CO |
|---|---|---|---|---|---|---|---|
Holdings | $0 | $0 | $0 | Unlimited | Allpoint Network | 4.8/5 | None |
Bank of Colorado | $10-$25 | $100 | $3,500+ | 100+ | Local Network | 4.5/5 | 40+ |
Chase | $15 | $25 | $2,000+ | 100+ | Extensive Network | 4.7/5 | 100+ |
Wells Fargo | $10-$75 | $25 | $500+ | 100+ | Nationwide | 4.6/5 | 100+ |
Bluevine | $0 | $0 | $0 | Unlimited | Green Dot Network | 4.7/5 | None |
Conclusion
Colorado’s diverse banking landscape offers something for every small business owner. Whether you prioritize low costs, high yields, or personalized service, there’s an option tailored to your needs. For those seeking a cutting-edge digital-first solution, Holdings stands out as the best choice. Open your account today at GetHoldings.com and take your business finances to the next level!