The Best Business Products Ever?*
*We can neither confirm nor deny. We do not have a time machine. The Romans may have had some fabulous business products. We'll take the business loan where our hands aren't chopped off for late payment please. Whether you're looking for a business credit cardor a business loan to finance your start-up, here's an unbiased sampling of the business products we think could bring some extra pennies to your jar.
Best Business Credit Card - Cash Back
With a $0 annual fee and the potential to earn 5% and 3% cash back in popular business spending categories on up-to $50,000 in spend in each category (then 1%), this card will help put some cash back in your coffers. You'll also enjoy employee cards at no additional expense and the ability to sync with QuickBooks. If category spend isn't your style, opt for our runner up, the Spark Cash, which earns a flat 2% cash back earning rate on all purchases.
Best Business Credit Card - Points
All the cool kids want the points. Cash back is so boring. If that's how you feel, then the Ink Business Preferred is where the action is. Earn 3 points per dollar in select categories, up-to $150,000, then 1 point per dollar on all other purchases. $95 annual fee with employee cards for no additional fee. Ultimate rewards points can be used for travel when booking through Chase, transferred to qualifying hotel and airline loyalty programs, or used for cash or gift cards if you are feeling especially boring on redemption day. No runner up in the points category. This card wins and takes no hostages.
Best Business Secured Card
You may find it hard to get a business line of credit when you first launch your new business. If that is the case, you may want to look into a business secured card. A secured card will allow you to put down a deposit in exchange for a line of credit. Wells Fargo will periodically review your account to see if you are eligible for an upgrade to a standard line of credit. The great part about the Wells Fargo's secured card is that it earns 1.5% cash back on all purchases. The card does carry a $25 annual fee per card.
Best Business Checking Account
We have to go with Chase here, for ease of access and low barrier to entry. The minimum opening deposit is $25. Monthly maintenance fee is $12, but can be waived with a $1,500 monthly balance in the account. If you happen to fall within BBVA's banking footprint, they offer a strong option with their ClearConnect checking option with no monthly maintenance fee. Your local branches might be the best place to go for small business accounts, but at a national level Chase is the winner.
Best Business Savings Account
Most business savings accounts should be low maintenance and fee free. Since we're recommending the Chase Total Business checking account, the Chase savings account is the logical choice. The monthly fee is waived when the accounts are links and you can also use your savings account to avoid overdrafts.
Best Business Prepaid Card
You know the tricky part about running a business, besides the whole thing? Having employees that spend your money. Bento will help you manage employee spend for up to 10 employees for a $29 monthly fee. Set daily, weekly, or monthly employee spending limits. Automatically have a card disabled if a charge in a specific spending category exceeds that employees authority. You are He-man. You have the power.
Best Business Loan for Business Capital
If you're looking for a business start up loan, this isn't for you. SnapCap requires 6 months in business for loan funding. Other than that, they offer a quick process with loan funding in as little as 48 hours. Loans can start at as little as $5,000 and go all the way up to $600,000. Choose a repayment period between 3-36 months. SnapCap is also equipped to offer industry specific loans and lines of credit.
Penny for your thoughts?
Well, that's it. Our list of the best business products. Did you use another product to make your business shine and slay your competition? E-mail us and let us know.
|SimplyCash Plus Business Credit Card||Best Business Credit Card - Cash Back|
|Ink Business Preferred Credit Card||Best Business Credit Card - Points|
|Wells Fargo Business Secured Credit Card||Best Business Secured Card|
|Chase Total Business Checking||Best Business Checking Account
|Chase Total Business Savings||Best Business Savings Account|
|Bento Prepaid Business Card||Best Business Prepaid Card|
|SnapCap||Best Business Loan for Business Capital|