The 5 Business Bank Accounts and Services a Small Business Needs

What bank accounts and services does a small business need? What financial tools are available for small business owners who are just starting out? How can a relationship with a local business banker help you be proactive in operating your business?

Starting off Season 3 of Financial Cents, Chris Sarver, vice president and business banking team lead at National Bank of Arizona, joins host Brent Cannon, executive vice president and director of community banking at National Bank of Arizona, to discuss the 5 most important accounts and services a small business owner needs for their business.

Though a business checking account may be the starting point for any business owner, a business credit card can help manage the cash flow cycle, treasury management can help the business pay vendors and get paid by clients quickly and efficiently, and lending can help the business expand. But perhaps the most important service a business owner can have is a relationship with their local business banker.

“Finding a local banker, someone you can get ahold of, is very important,” says Chris. “They are one of the most valuable tools you can have in your toolbelt.”

Subscribe from your favorite podcast platform by visiting: https://www.nbarizona.com/financial-c....

Need a business banker for your business? https://www.nbarizona.com/business/

#banking #business #smallbusiness

Timestamps:
00:00 - Intro
00:50 - The 5 Most Important Business Accounts
01:17 - Chris Sarver's Background and Business Banking Team
02:28 - Business Checking Account - #1
05:06 - Business Credit Cards - #2
05:59 - Building Business Credit
06:53 - Treasury Management - #3 (Merchant payments, ACH, Remote Deposit, Fraud Protection)
11:29 - SBA or Conventional Loans - #4
13:44 - Relationship with a Local Banker - #5
16:00 - Money Market Account and Lines of Credit
20:39 - Getting Personal Loans as a Business Owner