Bank of America (BofA) has launched a suite of small business charge cards designed to give small businesses more choice and control over their payment and expense management needs. Unlike credit cards, charge cards require payment in full every month, enabling greater control over expenses without finance charges. The cards will be available through BofA banking centres and on the website later this month.
The suite of charge cards includes Business Charge, Business Charge with WorldPoints Rewards and Business Preferred World MasterCard.
“Our small business clients tell us they need products that offer straightforward solutions,” said Chip Rossi, BofA unsecured borrowing and small business products executive. “Charge cards provide small business owners with another option for their payment needs – combining the convenience of short-term credit with the ability to manage their spending and cash flow.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.