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How Does a Small Business Use a Zero Balance Account?

January 3, 2022

If you’re a small business owner, it might feel counterintuitive to have a business checking account with the goal of keeping a $0 balance.But that’s actually the whole point of a Zero Balance Account: You use that dedicated checking account to fund a specific expense, such as payroll, departmental spending, petty cash, travel reimbursement, or any other business need. Funds are sent to a particular Zero Balance Account  only when necessary to cover checks or debits. At the end of every day, any money in the Zero Balance Account is transferred back to the primary account.

Small businesses often use these types of accounts because they help control finances, increase efficiency, and allow all funds to take advantage of higher interest rates.

How to Get a Small Business Loan

December 20, 2021

You’ve decided to take your small business to the next level with a small business loan. But how do you get a small business loan? While it’s exciting to see your small business take off, applying for a loan can be complicated and intimidating. That’s why we created this 5-step guide to help you apply for a small business loan.

Six Tips for Managing Your Small Business Taxes

November 22, 2021

If you’re a small business owner, you probably started your business because you wanted to be your own boss, have the freedom to make your own decisions, set your own schedule and determine your own career path.
You probably didn’t start your business because you love doing taxes.
And the challenges small business owners grappled with due to the pandemic have led to both headaches and heartaches for small businesses filing their taxes in 2020. It’s a problem that will persist in 2021, and possibly beyond.

Top 5 Holiday Season Cybersecurity Tips for Small Businesses

October 18, 2021

Small business owners plan for the holiday season months in advance. From securing inventory to outlining sales strategies for their e-commerce site, preparing for the holiday season can be stressful … especially when it comes to keeping your customers’ information safe and private from cyberattacks.

Everyone is susceptible to cyberattacks, and the holiday season makes small businesses particularly vulnerable. Since small businesses have limited staff, small information technology (IT) departments, and often little money set aside for remediation, they’re often prey to cyber threats.

Luckily, there are steps you can take to protect your small business, keep your customers’ information safe, and improve cybersecurity for your small business.

Posted in: breach, business, cybersecurity, data, fraud, holiday, small

What Is a Sweep Account, and How Does It Help My Small Business?

September 27, 2021

Running a small business is an intense, but rewarding undertaking. Most owners and operators start their business out of passion. Some smart financial moves and optimized cash management can support that passion and help your business grow. The right bank can offer you solutions you may not have known about. One key example is a sweep account. In the following article, we’ll answer basic questions like “What is a sweep account?” “What are the benefits?” and “What are the drawbacks?” By the end, you should have a clearer understanding of how this type of account can benefit your small business.

Posted in: account, brokerage, business, cash, earn, interest, management, small, sweep