Choosing a right bank is one of the primary decisions any kind of business organisation needs in order to keep the financial troubles at bay. Managing your finances efficiently is the foremost need of the hour in order to start something new and finding a bank that offers a checking account, savings account with credit cards as well as those impromptu loans is rather burdensome. There are a plethora of best banks in America for small businesses that allows you to conduct smooth tax preparations, loan applications, payroll management and other primary small business solutions in advance to various sign-up bonuses, APR and other rewards.
Here are some of the best banks in America for small businesses that offer exceptional financial solutions:
1. Wells Fargo
Wells Fargo tops our list of the best banks in America for small businesses for being the most active SBA lenders of all time. They have an actual good history of lending loans to the small businesses and other financial solutions. They held a record of financing loans to more than 1500 small businesses in 2017 for up to $459 million. In addition to the SBA loans, Wells Fargo also offers its own small business solutions. They have various tangible checking account offers that are exceptionally beneficial for newcomers. You are eligible for secured loans, unsecured loans, lines of credits, real estate loans and many more. They offer 200 free monthly transactions, $7,500.00 of free cash deposit limit and a $14 of monthly fees. 7.25% is the fixed interest rate in terms of unsecured loans and 6.25% for the vehicle loans.
$0 introductory maintenance fee is one of the offers SunTrust have introduced making it almost top the list of best banks for small businesses. It doesn’t matter the type of checking account you open with the banks, you will be eligible for the offer. The offer is valid until your first 12 billing cycles and the term loans can last up to 20 loan years makes the bank desirable to many. Their primary business checking accounts and Business Advantage Plus Checking accounts holders gets two months of financial dealings for free. They offer loans for vehicles, office furniture, equipment for construction etc.
3. Capital One
Best in terms of Business Checking Accounts, Capital One is our third pick as the best banks in America for small businesses. Their checking accounts allow you to make plenty of debit and credit card transactions making it best if your business organisation requires you to make a high amount of transactions and getting the fee waived. Their Spark Business Basic Checking and Spark Business Unlimited Checking accounts allow multiple free cash deposits and the latter also allows you to make 5 domestic wire transfers within a month.
It is the best bank in terms of offering overall amazing business credit cards. They offer high reward rates and other additional benefits for smooth financial solutions. They have minimum requirements for opening a business account which is easy to justify. They do offer more than 1 credit card to limit your expenses much further. They have $100,000.00 as a balance to waive fees and $25,000.00 of free cash deposit limit. You are eligible up to 500 of free monthly transactions.
Do Check out our blog post on Common Misconceptions about Credit Cards.