MoneySmall Business

NorthOne Business Banking: 2021 Review

Editor’s note: As of publication, NorthOne has paused new accounts to upgrade to its banking technology. Business owners who apply and are approved during this time will be placed on a waitlist for accounts to be opened on March 16. The NorthOne business bank account is…
MoneySmall Business

Oxygen Business Bank Account: 2021 Review

Oxygen is an online-only bank (or neobank) that specializes in mobile banking, offering both a personal and business bank account through the Oxygen app. With no monthly fees and unlimited fee-free transactions, the Oxygen business account is well-suited for small-business…
MoneySmall Business

BMO Harris Bank Business Checking: 2021 Review

BMO Harris offers three main business checking accounts, including an interest-bearing option and a free checking account for nonprofit businesses. These options may appeal to a variety of business owners, especially if they can maintain a balance high enough to skirt the…
MoneySmall Business

6 Best Banks for Small Business

The best bank for your small business depends largely on what you’re looking for: a checking account, savings account or different financial services altogether. At a minimum, you should have a dedicated business bank account to store funds and manage your day-to-day…
MoneySmall Business

Brex Cash Review 2021: Cash Management Account

Brex Cash is a cash management account that allows you to store your funds as uninvested cash with the program bank, or invest them in a money market fund to earn yield. With no fees and unlimited digital transactions, Brex Cash offers a tech-first alternative to the…
MoneySmall Business

KeyBank Business Checking: 2021 Review

KeyBank offers three small-business checking accounts with minimal frills, but also minimal fees, provided you’re able to avoid the bank’s hefty overdraft charges. The bank’s generous cash deposit limits — up to $25,000 at no cost, $50,000 in some locations — and…
MoneySmall Business

Where to Open a Business Checking Account Online

Both digital banks and some brick-and-mortar institutions allow you to open a business checking account online. Although brick-and-mortar banks have expanded their online capabilities, especially during the COVID-19 pandemic, you’ll find that big-name, national banks are…
MoneySmall Business

Xero Accounting: 5 Things to Know

Xero is cloud-based accounting software that allows small-business owners to manage their finances and collaborate with their accountant or bookkeeper from anywhere. Founded in 2006, it’s now a widely used accounting application with more than 2 million subscribers.
MoneySmall Business

Best Business Savings Accounts of January 2021

A business savings account is a type of business bank account that allows you to earn interest on your funds. Compared with business checking accounts, savings accounts typically limit your monthly withdrawals, making them best for long-term savings — like emergency funds…
MoneySmall Business

A Guide to PPP Loan Forgiveness

The Paycheck Protection Program provides fully forgivable loans to small businesses struggling through the coronavirus pandemic. But applying for that forgiveness can be daunting, especially for business owners who have limited resources at their disposal. We’ve put…
MoneySmall Business

Capital One Business Checking: 2021 Review

Capital One business checking is a fit for small-business owners who are looking for comprehensive banking from a brick-and-mortar bank. Capital One offers two business checking accounts — Spark Business Basic Checking and Spark Business Unlimited Checking. Both include…
MoneySmall Business

What You Need to Open a Business Bank Account

Whether you plan to open a business bank account in person or online, you’ll need to provide basic details about yourself, your business and any additional business owners. You’ll also need a government-issued ID and legal business documentation. Here’s a breakdown of…
MoneySmall Business

Novo Bank Review 2021: Small-Business Checking

With no monthly fees, unlimited refunds for ATM charges and a focus on digital banking, Novo business checking is a great option for small-business owners on the go. Novo offers its own integrated invoicing tool as well as direct integration with top business tools, making…
MoneySmall Business

NBKC Business Checking: 2021 Review

NBKC business checking — also simply referred to by NBKC as its Business Account — is an online bank account with no monthly maintenance fees, no minimum balance requirement and unlimited transactions. This free business checking account is a great option for…
MoneySmall Business

How Businesses Can Apply for a Second PPP Loan

Small businesses hit hardest by the coronavirus pandemic can soon receive a second forgivable loan under the newly revived Paycheck Protection Program. Congress designated $137 billion for “second-draw” loans as part of a larger funding and relief package. The bill…
MoneySmall Business

Is Invoice Financing Right for Your Business?

Small businesses that make money on 30-, 60- or 90-day customer invoices can face a cash crunch while waiting for payment. If your business needs cash right away to pay for expenses or take advantage of an opportunity, you can turn those outstanding invoices into immediate…