This post is sponsored by Capital One:
For small business owners, obtaining loans to fund new initiatives or investments can be challenging. Even established small businesses can experience cash flow problems at times, particularly seasonal businesses. For businesses that haven’t experienced cash flow problems yet, the day might come when you do. If you don’t have a business credit card already, it will be harder to get one later when you really need it.
Small business credit cards provide a variety of benefits when you need them. First, a business credit card enables you to keep your business and personal finances separate. This is particularly important at tax time when you want to claim all of your allowed deductions. Many small business credit cards provide users with the ability to categorize purchases, making tax time even easier.
A small business credit card can also offer low interest rates, rewards programs, and additional perks like travel insurance, fraud protection, rental car insurance coverage, and more. Even if you don’t use your business credit card often, these perks could be worth having the card in your wallet.
Many small business credit card offerings enable some of your employees to obtain cards through your business account, too. This is particularly useful for salespeople and employees who travel frequently.
One of the biggest advantages to having a small business credit card is that it helps to build your business’ credit profile. If you need to apply for a loan in the future, your business’ credit history will be a critical factor in securing the funds you need.
There are many great small business credit card options available, so do your research and choose the program that is the best fit for your business. Capital One offers several options through its Spark Business program. In the spirit of the holidays, check out Capital One’s Spark Business claymation Vine video below!
This post is sponsored by Capital One.