Business Solutions for New and Established Businesses

by admin on August 14, 2011

Business solutions refer to financial products and services that help business owners manage their finances, finance their business projects, attract and retain experienced employees, and protect their business from market fluctuations and other unfavorable circumstances. Business solutions help business owners plan for the future and build wealth. In addition, business services include advice on wealth-building opportunities for aggressive and conservative investors.

Money management solutions are important for growing and starting businesses alike. They are a cost-effective way to do bookkeeping and increase the efficiency of your business. Most US banks offer the full array of business products and services, which help manage and coordinate business finances. Wells Fargo’s Wachovia Bank, for example, offers checking and savings accounts, cash management, access cards, and payment processing. Payment processing gives business owners access to enhanced payment capabilities to initiate and manage payments. Merchant services allow fast and convenient transaction authorization for debit and credit purchases. The bank’s foreign exchange services helps companies conduct business around the globe. With its automated clearinghouse, payments are made and funds transferred electronically. The Visa credit card by Wachovia goes with zero liability and optional rewards programs. Cash back and rewards points can be earned on net purchases. The bank also offers a full array of lending solutions, including business loans, lines of credit, commercial mortgages, construction loans, and letters of credit.

ING Direct also offers financial products intended for business owners. You can choose from business savings accounts, ShareBuilder 401k, and business CDs. Business savings accounts are a flexible savings solution for different types of businesses, including limited liability companies, partnerships, sole proprietorships, not-for profits, and corporations. No service charges or fees apply. Your savings account can be accessed by up to three persons associated with your business. Everyone is given a separate customer number and login PIN for added accountability, security, and flexibility. Business CDs are intended for business owners who seek a high yield. They are offered with a variety of terms – from 6 to 60 months – to fit your business objectives. ShareBuilder 401k is a low-cost and simple retirement plan appropriate for any small business. They are not FDIC insured and subject to investment risks.

Capital One offers business solutions that are specifically tailored to the needs of small businesses. Those who want to apply for business credit cards can check the bank’s no fee credit cards, rewards credit cards, and other products. The No Hassle Miles credit card is featured with zero annual fee, zero percent introductory rate until March 2012, and bonus points. It is intended for business owners who want to earn rewards and save money. The Business Platinum credit card is a good solution for business owners who seek to cover their expenses and build business credit. The card goes with an annual fee of $39 and zero percent APR until March 2012. The regular variable interest rate is 19.99 percent.

Capital One also offers money market accounts suitable for businesses. Among the key benefits are no minimum balance and monthly fees and rates, which are above the national average. All deposits are FDIC insured, and business owners gain easy access to their money by check. Keep in mind that the following businesses are not accepted: international business corporations, government/ public funds agencies, private investment companies, casino and gambling-related businesses, and others. In order to take advantage of this product, you have to provide business name and description (e.g. restaurant, shop, gas station), SSN and Tax ID for all signers, and other relevant documentation.

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