Bank of America launches startup growth group
Bank of America has launched a new Emerging Growth practice designed to work with startup companies. Bank of America is one of the top banks in the United States, and they’re making all of the services they offer available to startup and early-stage companies. Those services include:
- Merchant services. B of A can help your company accept credit cards. Frequently startups use a variety of card processing services, but it can be helpful to consolidate that through your bank.
- Cash management. Because of its size, Bank of America can help you earn a better yield on your cash. Your company will have access to Treasury securities and other forms of short-term debt and saving instruments.
- International footprint. A large bank can help you make transactions globally with very little friction.
- Investment banking practice. Startups can take advantage of investment bankers who can help you consider options for raising capital.
- Lending capability. Bank of America has extensive lending programs, and that can be very helpful to startups. For example, they offer some equipment financing or they can help you find the right types of lenders.
Personal banking for a startup’s employees. This can be a nice benefit for startup staff, making it easy to open accounts and take advantage of consumer banking products and services.
