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When it comes to business banking and credit, one of the largest names in the industry is Citibank. They have a long history in servicing businesses with small business and commercial banking. They have simple solutions like a Certificate of Deposit or more advanced information reporting. Moreover, the bank is known for their business credit cards and other funding options. As business owner looking to properly finance your business, Citibank’s business options might be perfect for you.
Small Business Banking
Citibank offers everyday banking solutions. These include checking accounts and savings accounts. One of the most important aspects of starting and running your own online business is having a business bank account. The bank has several types of business checking accounts, including CitiBusiness, Flexible checking and Streamlined checking accounts. Citibank offers these two very important solutions to help you keep your deposits safe.
Cash Management
If you need help managing business cash flow, Citibank Business has solutions for that. The cash flow management services offered by the bank help you control your business finances. They can help you speed up receivables while also keeping your money secure. Poponey for Small Business is a comprehensive electronic payments and invoicing system offered by the bank. It allows you to send and receive payments directly from your business account. This will greatly speed up your accounts receivable processes. If you need cash management services, consider the ones offered by Citibank.
CitiBusiness Credit Cards
Many small businesses use credit cards to help manage cash flow. Citibank Business solutions have several credit card options. Depending on your spending habits, rewards preferences and credit score, you can take advantage of several offers. Most popularly, the CitiBusiness AAdvantage Platinum Select World Mastercard and Costco Anywhere Visa Business Card by Citi are well known throughout business owners. This may even help you avoid the need for a construction loan if you have a good credit score. Certainly, the attractive introductory rates and access to credit can help you finance your business.
Business Line of Credit
Once your business has built up some credit, your company might be eligible for a line of credit. Citibank has Credit Accounts (lines of credit) that serves as a revolving line that can be used to invest into new inventory, equipment or resources. Surely, having access to a line of credit would provide the financial stability that every business would like to secure.
Global Business Banking
Citibusiness also supports your business global expansion. When you are ready to expand your business network into overseas markets, they have trade services, letters of credit and documentary collections. These are essential services to international companies. Moreover, they have foreign exchange services to manage currency, trading and real-time information. Most importantly, these services are available 24/7 to help your company manage it’s finances at a global scale.
Business Loans
Whether your business needs a term loan, commercial mortgage or asset based lending option, Citibank business provides the solutions to help your finances. With increased lending options, your business can finance new deals, equipment, inventory or capacity. This is essential to keep you business thriving in the future. To apply for a Citibusiness loan, you should have your company information, credit reports and corporation documents handy. Once approved, you can use these financial tools to increase business opportunities.
Information Reporting
Every business needs reporting, even if you do not need to apply for business credit card options. Citibank business provides specialized custom reporting to business clients. The online access allows information to be exported into several different formats including Microsoft Money, Quicken, BAI and others. To gain insights from your company financials, leveraging the Citibank business reporting will be a great solution.
Undoubtedly, Citibank business solutions offer a variety of ways to finance a business. Depending on your company needs, you can utilized everything from business banking to advanced reporting or a bank lockbox. With the right financial tools, your business will have a strong cash reserve to continue conducting business.
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I didn’t know Citibank has so many solutions. Great article.