Open a Business Bank Account

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  Your Business Bank Account

  Your business bank account is vital to your future success. Most lenders determine the age of your business by the date you first opened your business banking account and the date that appears on your Incorporation, LLC, or EIN paperwork.

  The date you filed paperwork is not important to lenders, or to the business credit reporting agencies. When it comes to business lending and business credit; it starts from the day your company opens its business bank account.

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  Find a Bank for Your Business

  CLICK HERE for National & Regional Bank Locator

  CLICK HERE for the Credit Union Locator

  CLICK HERE for the Community Bank Locator

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  Open Your Business Bank Account

  Opening a business bank account is easy once you select your bank. In some cases you can open a business bank account entirely online while some banks will require you to visit a local branch.

  Documents Required

  • Employer Identification Number (EIN)
  • Your business formation documents
  • Ownership agreements
  • Business license (if required)

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  Your Merchant Account

  Most businesses can benefit from being able to accept credit cards as payment for their products and services. Could your business benefit? There is no shortage of sources in the marketplace that can provide you with a merchant account, a processing gateway and any necessary equipment so you can accept credit cards from your customers. In fact, your bank will more than likely want to be that merchant solution for your business.

  However, it’s important to explore your options before setting up a merchant account with your bank. If may be convenient but can also limit your financing and credit options. For example, there are several funding programs based on merchant processing and not on standard credit underwriting.

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  Set up a Merchant Account

  The ability for your business to accept credit cards is now also a key component in helping you to build business credit. As a BCIC member you have exclusive access to a Merchant Account Provider that can offer a unique advantage.

  This is the only Merchant account that not only offers competitive rates and terms but also creates a reporting tradeline to Experian Business. That means every time you pay your monthly merchant account fees, that payment creates a positive tradeline history and helps build your company’s creditworthiness.

  The Only Merchant Account That Builds Business Credit

  CLICK HERE

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  Task to Complete

  Set Up a Business Bank Account

• 2

  Task to Complete

  Set Up a Merchant Account