Banks financial and non financial services for new business

Here are some common financial and non-financial services offered by banks to new businesses:

Financial Services:

  1. Business Checking Accounts: A dedicated checking account for your business, allowing you to manage your finances and make transactions easily.
  2. Business Savings Accounts: A savings account designed for businesses, offering a higher interest rate and additional features.
  3. Lines of Credit: A revolving line of credit that allows you to borrow and repay funds as needed.
  4. Term Loans: A fixed-rate loan with a set repayment term, ideal for financing specific business needs.
  5. Invoice Financing: A service that allows you to borrow against outstanding invoices, providing quick access to cash.
  6. Merchant Services: A payment processing system that enables you to accept credit card payments from customers.
  7. Cash Management Services: A suite of services that helps you manage your business's cash flow, including account reconciliation and cash forecasting.
  8. Treasury Management Services: Advanced cash management services, including wire transfers, ACH payments, and foreign exchange services.

Non-Financial Services:

  1. Business Consulting: Expert advice on various aspects of business operations, such as marketing, finance, and human resources.
  2. Accounting and Bookkeeping: Services to help you manage your business's financial records, including invoicing, expense tracking, and tax preparation.
  3. Payroll Processing: A service that handles your business's payroll, including employee salaries, taxes, and benefits.
  4. Risk Management: Services to help you identify and mitigate risks, including insurance, risk assessment, and compliance.
  5. Business Planning: Assistance in creating a comprehensive business plan, including market research, financial projections, and strategic planning.
  6. Marketing and Advertising: Services to help you promote your business, including social media management, email marketing, and advertising.
  7. Human Resources: Support with hiring, training, and managing employees, including benefits administration and compliance.
  8. Technology and IT Services: Assistance with setting up and managing your business's technology infrastructure, including IT support and cybersecurity.
  9. Compliance and Regulatory Services: Guidance on regulatory requirements, including compliance with laws and industry standards.
  10. Business Networking: Opportunities to connect with other business owners, entrepreneurs, and industry experts, including networking events and conferences.

These are just some examples of the financial and non-financial services that banks may offer to new businesses. The specific services offered can vary depending on the bank and the type of business.