Survey highlights trust gap between community banks and larger institutions
(UCBJ) – SouthEast Bank’s Small Business Month survey shows small business owners value personalized service, responsive support and local lending decisions more than competitive rates or digital tools.
The digital survey included nearly 200 small business respondents from SouthEast Bank and other financial institutions. Personalized service and local decision-making ranked above rates and technology as the top drivers of loyalty.
Key findings:
• 94% say personalized service is important and 30.7% rank it as most valued
• 93% say local loan decisions are important and 28.4% rank it as most valued
• 74% say rates would influence switching banks
• 41% say digital tools would influence switching banks
“Our research confirms what we hear every day from the East Tennessee entrepreneurs and small businesses that we serve,” SouthEast Bank Vice President, Regional Banking Manager, Melissa Maciejewski said. “While competitive rates, digital services and other technology offerings and banking products are important, they only really benefit a small business when paired with the personalized support of a trusted expert. Business owners want a banking a partner who knows them, understands their cash flow and financial needs and responds quickly.”
The survey aligns with data showing more than 740,000 small businesses statewide, making up 99.5% of all businesses and employing 1.2 million people. SouthEast Bank customers reported higher satisfaction than peers, with more than 93% saying they would recommend the bank compared to 78% at other institutions.
“Small businesses are the backbone of our communities,” Maciejewski said. “We hope these insights help business owners evaluate whether their banking relationship is truly supporting both their day-to-day needs and long-term financial goals.”
To learn more, visit www.southeastbank.com/BusinessSurvey2026.
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