Top 10 Best Banks for Small Businesses in Vermont (2025) – Compare & Choose

Introduction to Business Banking in Vermont

Vermont’s economy is deeply rooted in small businesses, with industries such as agriculture, tourism, manufacturing, and renewable energy driving growth. The state’s rural charm attracts entrepreneurs focused on sustainable practices, while cities like Burlington and Montpelier serve as hubs for commerce and innovation. Vermont’s commitment to supporting local businesses makes it a unique environment for entrepreneurs to thrive.

However, small business owners in Vermont face challenges such as limited access to affordable banking solutions, high fees for basic services, and fewer branch locations due to the state’s smaller population. These obstacles can make managing finances more difficult for busy entrepreneurs.

Choosing the right bank is essential for small businesses looking to streamline operations and maximize growth potential. Below is a list of the 10 best banks for small businesses in Vermont to help you make an informed decision.

The 10 Best Banks for Small Businesses in Vermont

#1 Holdings (Best for Digital-First Banking)

Holdings is redefining business banking with its innovative digital-first approach. Offering $0 account fees, no minimum balances, and tiered APY rates up to 3%, Holdings helps businesses maximize savings while simplifying financial management. Its multi-account management feature allows businesses to budget effectively, while integrations with QuickBooks and Plaid streamline accounting processes.

Pros:

• $0 account fees and no minimum balances

• High APY rates (1.5%-3%) based on deposit tiers

• Free ACH transfers and domestic wires

• Seamless integration with QuickBooks and other platforms

• Access to Allpoint ATM network with no fees

Cons:

• No physical branches

• Limited services for cash-heavy businesses

Verdict: Holdings is perfect for tech-savvy entrepreneurs who value flexibility, competitive yields, and robust digital tools.

#2 Community National Bank (Best Regional Bank)

Community National Bank is a trusted name in Vermont banking with a strong local presence. Its Business Checking account offers up to 200 free transactions per month along with personalized customer service tailored to local needs. Community National also provides competitive loan options designed specifically for Vermont businesses.

Pros:

• Strong local presence across Vermont

• Up to 200 free monthly transactions on select accounts

• Competitive loan offerings tailored to small businesses

• Personalized customer service at regional branches

Cons:

• Monthly fee unless waived ($10-$25)

• Limited advanced digital tools compared to larger banks

Verdict: Community National Bank is ideal for locally-focused businesses needing personalized service.

#3 Northfield Savings Bank (Best Community Bank)

Northfield Savings Bank offers community-focused banking solutions with a strong presence across Vermont. Its Business Checking account features no monthly maintenance fees if balance requirements are met and up to 150 free transactions per month. Northfield also provides competitive loan options tailored to small businesses.

Pros:

• No monthly maintenance fee on basic accounts if balance requirements are met

• Up to 150 free monthly transactions

• Strong focus on community support within Vermont markets

• Competitive loan options tailored to local businesses

Cons:

• Limited branch network outside Vermont

• Fewer advanced digital tools compared to larger banks

Verdict: Northfield Savings Bank is perfect for community-oriented businesses seeking low-cost banking solutions.

#4 TD Bank (Best for Nationwide Coverage)

TD Bank provides extensive access across the East Coast with its Business Convenience Checking Plus account. It includes unlimited electronic deposits and access to branches throughout New England, including several locations in Vermont. TD also offers excellent credit card options tailored specifically for small businesses.

Pros:

• Extensive branch network across New England and nationwide

• Unlimited electronic deposits

• Strong business credit card offerings

• User-friendly mobile app

Cons:

• $25 monthly fee unless waived

• Limited free transactions (200 per month)

Verdict: TD Bank is ideal for businesses needing regional access and reliable credit card options.

#5 Mascoma Bank (Best for Sustainable Banking)

Mascoma Bank stands out as a certified B Corporation committed to sustainability and community support. Its Business Checking account includes up to 200 free transactions per month along with personalized service tailored to local needs. Mascoma also provides competitive lending options designed specifically for socially responsible businesses.

Pros:

• Certified B Corporation with a focus on sustainability

• Up to 200 free monthly transactions on select accounts

• Competitive lending solutions tailored to socially responsible enterprises

• Strong local presence across Vermont markets

Cons:

• Monthly fee unless waived ($15-$20)

• Limited advanced digital tools compared to larger banks

Verdict: Mascoma Bank is ideal for socially responsible businesses seeking sustainable banking solutions.

Comparison Table of Top Banks in Vermont

Conclusion

Vermont’s thriving economy demands banking solutions that cater specifically to the needs of its entrepreneurs—whether they’re running farms in rural areas or tech startups in Burlington. Holdings stands out as the top choice due to its modern features like high APYs, fee-free banking, and seamless integrations that simplify financial management.

Ready to elevate your business finances? Open an account today at GetHoldings.com!