Financial Services for Small Businesses and Consumers

Running a small business is a complex process that requires having access to a number of different financial account services. From loans to prepaid cards, these tools can help you launch your small business successfully.

These days, there are a number of companies that offer services geared specifically for small businesses and consumers. As with anything else that relates to finances, it is very important to read all the fine print when choosing a company that can provide you a loan, a credit card, or any other service. We have gathered some of the banks and credit companies such as American Express that provide quality services to consumers.

Chase

Chase offers many different types of financial tools for small businesses and consumers. Their loans are some of the most popular options, because they have different ones to choose from. They offer, for example, the SBA 7(a) loan program, which is ideal for people looking to expand their business, or looking to buy a new one. This one has a loan limit of up to $5 million, but it is one of the easier ones to qualify for and it has lower down payments and longer maturity terms. They have lines of short term credit you can turn to, as well, and you can easily sign up for a business checking or business savings account.

Bank of America

Bank of America is another great option for anyone starting a business or planning to expand the one they already have. They offer great small business and consumer credit cards that can provide all manner of benefits, including cash back and travel rewards. One of their cards, the Business Preferred World Mastercard is ideal for business owners because it allows you to earn WorldPoints which can go toward hotel stays and travel tickets. They offer business checking options, too, which can provide employee debit cards so that your employees can make purchases for you.

Wells Fargo

Wells Fargo has a number of great small business plus consumer financial and card services that run the gamut from credit cards to business loans. You can easily compare their SBA loans to select the one that best fits your needs. Their SBA 504 Term loan, for example, is a good choice for businesses trying to purchase real estate or longer term investment projects. This is a long term loan that you can get with fixed or variable rates, which can all be negotiated directly with Wells Fargo. They also have an equipment loan which allows established businesses to purchase the new equipment they need.

Eastern Bank 

For many small business owners, Eastern Bank is one of the top providers of small business financial services. They offer banking services as well as investing services for small businesses, including credit cards and even prepaid cards for employees to make purchases on your behalf. They have cards like the Visa Business Bonus Rewards card, which lets you earn points for every dollar you spend, These points can go toward all manner of purchases in the future.

Other banks which were not mentioned in this article but also offer specialized cards for business include Citi Bank and Barclays both of which offer low interest rates.