Top US Business Banks
From issuing loans, helping to minimize taxes, managing foreign exchange rates, working out internal financing details and setting up a business spending credit card, corporate banking are far and widespread. Not only do American businesses need to maintain their internal business expenditures, but also are required to keep on top of international banking needs.
Here are the top US business banks who continue to retain popularity during recessionary times.
Along with a revolving line of credit, international wire transferring and account reconciliation, CitiBank and their CitiBusiness channel offer business installment loans and commercial mortgages. Business owners can increase their working capital or fund large capital expenditures and business initiatives through 26 and 60 month term loans with competitive interest rates. Businesses looking to expand or purchase an owner-occupied commercial property can also take advantage of loans with terms of up to 15 years and mortgage or commercial pay back periods of up to 25 years. Online investing options are also available with secured and unsecured short-term options. CitiBank’s international offices also help to manage foreign trade. Additionally, CitiBusiness has also specifically designed programs for healthcare and legal professionals to simplify their banking needs.
Commercial banking product offerings of J.P. Morgan include lending, treasury services, investment banking and investment management for businesses ranging from $10 million to $2 billion. Each client is assigned a Client Service Professional to lead them in the direction of their needs to one of their seven channels: middle market banking, commercial term lending, mid-corporate banking, real estate banking, Chase Business Credit, Chase equipment finance and community development banking. Their list of products and services is extremely lengthy, with such offerings as asset and wealth management, employee stock ownership plans (ESOP), international banking, securities safekeeping and treasure services. J.P. Morgan also hosts a resource center with commercial banking-related publications and J.P. Morgan Chase hosted webinars.
Chase Business offers advanced savings and checking accounts to maintain funds as well as business debit and credit cards that offer rewards programs for future benefits. Short and long term credit options are useful for everyday spending needs and build equity by buying or building owner-occupied commercial real estate. JP Morgan Chase is also an international leader in the global foreign exchange market when it comes to wiring money internationally, along with their specialized programs for retirement plans, mutual funds and investment banking. Their online Business Resource Center is also accommodating to start up businesses looking to create a business plan, ways to finance their business, marketing techniques and ways to manage and anticipate cash flow needs.
ING Commercial Banking
The Commercial Finance Division assists companies in raising working capital by financing their inventory, purchasing orders and receivables and is ideal for wholesale and transport businesses and companies with a need for working capital and to low-solvency businesses with less access to other financing options. Their Corporate Investments division focuses on putting their financial resources and structuring capabilities to enable company management teams and shareholders to realize their financial plans. Corporate clients are also provided with a team of banking and finance experts headed by a senior manager to understand the client’s needs.
Morgan Stanley Smith Barney
The BusinesScape Program is a convenient source for start-up business owners to get them from initial growth to maturing the business. Other investment services and business management solutions include cash management services to maximize working capital, lending services for business expenditures, employee stock ownership plans and BusinesScape Business Advisory services to maximize a business to compete on a global level.
Bank of America Merrill Lynch
Bank of America Merrill Lynch serves companies with annual revenues over $3 million, middle-market and large corporations and institutional investors. Their list of products and services range from asset-based finance, equities, foreign exchange, merchant services to retirement and benefit plan services.
PNC offers a variety of financial services and products to help manage resources and maintain a company’s goals. Services and solutions include fraud prevention, investment servicing solutions, lending options, mezzanine capital services, equipment financing, PNC advisory webinars and asset management, among others.
For those interested in investments and trading, E*TRADE offers comprehensive resources for online investing, easy-to-use trading tools to understand market trends, investing and trading education and access to an investor resource center.