Bank of America – Banking on Small Business with Business Credit Cards

The Bank of America has been building on its existing small business lending portfolio over the past years. Three years ago, it was already one of the top small business lenders in Florida with over $1.5 billion in small business loans and over half that amount being micro-loans under $100,000. With its recent acquisition of credit card issuer, MBNA, the bank has moved into the growing small business credit card market.

Business caution about the economy has not managed to dampen the dynamic growth in the small business credit card market. Having banked on small business for some time now and having a big credit card operation under its wing, Bank of America is looking up their activities through small business credit cards.

Their business credit card package affords small businesses the opportunity to schedule electronic payments ahead of time, thereby freeing up a time consuming administrative task on the part of the business owner. Business credit card holders also get purchase protection, which doubles the manufacturer’s warranty period on purchases made by up to an additional year.

Credit lines for business credit card holders are flexible, and can go up to $25,000. The business’ everyday business purchases earn discounts and cash backs too.

The bank has taken line of credit for business credit cards one step further. The small business credit card holders can now link their checking accounts in the bank with their business credit card. In the event that your checking account suffers an overdraft, the bank automatically extends its overdraft protection benefit. This means they will transfer funds, in multiples of $100, from your business credit card account to cover the overdraft.

This automatic loan against the business credit cards’ line of credit should save small business owners a lot of embarrassment. The bank will extend this protection provided that there is sufficient credit remaining in the business credit card account and if the account is not in default under the Business Credit Card Agreement.

If your business credit card account cannot cover the overdraft, you may still have a problem though. To address that possibility, the bank will release sufficient funds even if it will cause your business credit card account to breach the pre-set credit limit. The business will be expected to settle this loan during the next payment period, but this facility can lift a heavy load from the business owner’s shoulders.

You may be concerned about financial charges. First of all, after the zero percent APR during the 9-month introductory period, your business credit card will be imposed a regular rate of prime rate plus either 6.99% or 9.99% APR (some other versions of the Bank of America business credit cards impose variable APR of either 15.24% or 18.24%).

Business credit card cash advances are subject to prime rate plus 15.99% APR, with a minimum of 19.99%, plus a cash advance fee of 3%, with a minimum $10 fee. If the cash advance causes the business credit card account to exceed the credit limit, you will be levied an over-credit limit fee, as specified in your Business Credit Card agreement.

Grow and Bloom Your Business With Business Gifts

Popularise your brand in order to expand and grow your company. Brand awareness is very important marketing tool to promote your brand and popularise it. If people do not know about your company then they may not buy products and services from it. Therefore it is important to attract the consumers and clients to create brand awareness and business gifts can help you in this. You need to make a positive impact on the consumers and please them which are easily possible through gifts and printed gifts.

A number of companies and organisations are employing these different types of promotional gifts and corporate gifts to inform the consumers about the brand and for creating brand awareness. The business gifts help in reminding the consumers of your brand and helps in embedding the brand name deep in their minds. Whenever people see the corporate gifts, they are reminded of your brand and are attracted to the products and services provided by it. This helps in the growth and bloom of and increases the profit as well.

The printed gifts or corporate gifts allow you to advertise and sell you brand in the most economical manner. These products can be used on a number of events and can be used as special gifts that may be given to the people connected to the organisation. This helps in creating a positive image on the receivers and pleases the consumers which results in good brand publicity.

Use good quality gifts that can be used as corporate gifts. Such products enjoy a longer life and can advertise the brand for a longer time. These different corporate gifts can be used in trade shows, exhibitions, parties, seminars, launch parties, conferences and other such important occasions and can be given to the people attending the event. This free gift leaves a good impression on everyone. For added attraction make use of business gifts that are useful to everyone and can efficiently remind the consumers about your brand. The business gifts can have the brand name, logo and additional information printed on it, which would help the consumers and client to know more about the brand.

For the best quality printed gifts that are available at the most reasonable prices, log on to online stores. The UK based website caters to a number of companies and organisations here. You can see the different variety of promotional gifts that are categorised into different categories. These categories include products like pens, pencils, mugs, bags, folders, torches, keyrings, caps, clothes and numerous other attractive products. You can select any product that suits your requirement and use it for the growth and expansion of your company.

How to Protect a Home-Based Business With Business Insurance

You run a small home-based business and you are happy with the revenue which you earn. Unfortunately, all this can go away in just a few seconds due to a natural disaster or a claim from a client. That is why you require protection. The best way to get it is to buy business insurance. Use some practical tips on how to shield your venture in the most effective way.

Cover all of your business assets.

The equipment and materials which you use for commercial purposes are not covered by your home insurance. You need to protect them with business insurance. Prepare a list of all assets which you use from your computer to the furniture. It is best if you get a comprehensive policy which covers your assets in case of a wide range of perils. If you have a limited budget in the beginning, however, you can protect them against the most common perils like theft and fire and then upgrade your cover.

Protect your revenue.

If your equipment gets damaged due to a peril, you will get compensated for its loss. However, you will still not be able to work and earn revenue for a certain period of time. In this situation, you may not have sufficient cash to pay any creditors, leasers and suppliers. You may lose some clients as well. If you have business interruption cover, your cash flow will be protected. The insurer will help you with making all payments and with the recovery of your commercial operations. For example, you can get money for renting equipment which will enable you to keep working until you can buy new one.

Consider getting liability insurance.

If you have clients visiting your home office or you work on the premises of clients regularly or from time to time, you will benefit from getting public liability cover as part of your business insurance package. If you produce tangible products, you will need product liability cover. If your company offers services like most home-based businesses, you should definitely get protected with indemnity insurance also known as professional liability cover.

Insure any business vehicles in an appropriate way.

If you use your private car or any other privately owned vehicle for commercial purposes, you need to get commercial auto cover. This is because an individual policy will not be valid for such vehicles. It is best if you get a comprehensive commercial auto cover which protects your vehicle against collision damage and various perils as well.

Finally, you should compare quotes from different companies to pick the best business insurance policy for you.

How to Market Your Business With Business Cards the Right Way

Today, business cards are still as one of the most powerful and effective marketing and advertising weapons, just like they have always been for decades. Although most companies use them primarily because of their low cost, business cards are able to offer a lot more benefits to companies and businesses of all kinds. If you are wondering how exactly using business cards can help your company, read on.

Business cards offer a convenient way to introduce your company to your target market or reach out to more people:

Whether you are just starting out in the market or are looking to reach out to a wider customer base, choosing to use business cards offer an easy and excellent way to both announce the launch of your company and introduce the kind of business you have to the public. Because they are small and portable, you can easily carry a hundred with you anywhere you go so that you can give them out to prospects. Some places where you can give out biz cards include business meetings or appointments, trade fairs and conventions. You can also leave a couple on the counter of your store or on the desks of your employees so that customers can easily get one for their future reference.

Business cards can be designed to have all the information you want your target audience to know:

Although they are small, business cards can pack a punch and can be printed to have tons of valuable information. As a matter of fact, you can even add some information about a special deal or offer that the receiver can take advantage of, which can make your marketing card design even more effective.

Business cards can be used to reinforce the other marketing tools and strategies you have in place:

As a company, it is important for you to make sure that you are able to utilize a wide range of tools and techniques so that you can create an overall marketing strategy which can effectively carry out your business goals; and the good thing about marketing cards is that they are versatile and flexible that they can be used for reinforcing whatever types of marketing tools you are already using.

These are just some of the ways on how biz cards can be useful for marketing your company and the type of business you have. Before using business cards, however, just like other types of marketing tools, you should make sure that you are able to come up with a design which can effectively represent your company and the products and services that you have for your target market.