Jump to content
Business Forum
FORUMS BLOG USER BLOGS USER MEDIA ADVERTS   ADD  MANAGE CHAT CLUBS & USER'S PERSONAL FORUMS LINK EXCHANGE

Options For Small Businesses


Recommended Posts

Banking

The word "bank" is synonymous with authority and power, and the banking industry is one of the most powerful industries in the United States. Banking is the business dealings with a specific bank which offers mainly checking accounts, credit, savings, business loans, and personal loans, specifically designed for businesses rather than for individuals. Banking takes place when a particular bank, or department of a bank, just handles businesses. If you are starting a new business, you will require getting yourself an account from the banking department of your bank. If you want to make a deposit, you can use an ATM card, checkbook or cash.

 

Checking Accounts- For small businesses, checking accounts are the most common. This type of account can hold both liquid and surplus funds. The checking account facility generally charges small fees and penalties on a regular basis. These charges are usually levied according to the amount of money which are in your account and the frequency of checks that you issue. You can withdraw cash from your account; however, you cannot withdraw checks. You must have a debit card or echeck if you wish to make any payments.

 

Small Business Lending - Small businesses need help in various aspects of operations. If you are a small businessman, you can approach any bank in your locality that offers loans at low interest rates and convenient repayment terms. Some of the best banks for these purposes are Bank of America, Chase, Citibank, Wells Fargo and Fleet Bank. They can be reached through their websites.

 

Cash Management - All small businesses require proper cash management. This includes arranging the storage and retrieval of cash. Some of the best banks for this function include Bank of America, Chase, Citibank, Wells Fargo, Fleet Bank, and Capital One. A merchant cash advance is another alternative available to facilitate cash management for small businesses. It provides cash advances only to those merchants who have cash reserves.

 

Corporate Banking - Small businesses can also contact corporate banks to arrange cash management for them. Banks like Wells Fargo offer corporate checking, corporate savings accounts and various business banking products. They can be reached online. Other options include the commercial banks like Wachovia, Citibank, Chase Manhattan and many more. You can get information on the various products and services they offer as well as the terms and conditions of financing by going through their websites.

 

If you have a home based business, you will have to keep close track of your expenditures. To do this you may require the services of a small business banker. This professional helps you in creating a comprehensive expense report that will help you track funds available and funds being spent. This will help you budget for unexpected expenses and buy the things you need, even when there is a cut in funding from corporate banking sources.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
  • Create New...