Communities across the nation are gearing up for one of the most significant shopping events of the year – Small Business Saturday. Falling on November 25th this year, it's a day dedicated to celebrating and supporting the small businesses that give our neighborhoods their unique character and charm. They’re the backbone of our communities—driving innovation, creating jobs, and fueling economic growth. Here’s a snapshot of small businesses in the U.S. by-the-numbers:
- A small business is one with fewer than 500 employees, according to the Small Business Administration (SBA)
- The Census Bureau’s Business Dynamics Statisticsindicate there were 5,358,600 such firms in 2021, up from 5,322,155 in 2020.
- According to County Business Patterns (CBP), 6% of all U.S. employer establishments in 2021 (the latest year for which these statistics are available) had fewer than five employees, up from 55% in 2020
Let's face it – running a small business isn't easy. Our small business owners often grapple with challenges such as limited access to capital, high banking fees, and impersonal financial services. Traditional banking institutions typically don’t offer the tailored support that small businesses need to thrive. That’s why credit unions like Chartway can be crucial in making your business successful.
Small Business Saturday offers a unique opportunity to attract new customers and boost sales. It’s time to secure the funds you need for inventory, staffing, and marketing and consider how you’ll streamline your payment processes for a smoother customer experience. At Chartway, we offer a suite of business banking services designed to simplify your financial management, so you can focus on what you do best—running your business.
Business Banking Services
Business Checking Accounts
The right checking account can make a significant difference in your day-to-day operations. Our Chartway Premium Business Checking account provides you with digital tools to manage your finances in Online & Mobile Banking, tiered dividends, and Overdraft Protection on eligible accounts.
Business Credit Cards
Keeping track of business expenses is crucial for financial health. Chartway’s Business Rewards Credit Card offers a smart way to manage spending while earning rewards that include:
- Unlimited Points: Earn points for every dollar spent, with no cap.
- Flexible Rewards: Redeem points for cash back, travel, merchandise, and more.
- No Annual Fee: Enjoy all the benefits without extra costs.
Business Loans
Whether you want to expand, purchase new equipment, or improve cash flow, our business loans provide the financial support you need.
- Flexible Financing: We offer bespoke loan options to meet your requirements.
- Competitive Rates: Benefit from rates that help you invest more into your business growth.
- Personalized Service: Our team works alongside you to find the best financing solution.
Cash Management Services
Electronic Payments and Collections (ACH Origination)
Streamline your payment processes with:
- Direct Deposits: Simplify payroll by sending direct deposits to employees.
- Direct Payments: Manage recurring payments with ease.
- Funds Collection: Collect payments from customers efficiently.
Online Wire Transfers
When time is of the essence, our secure wire transfer service allows you to move funds quickly and reliably.
- Same-Day Transfers: Initiate transfers from the convenience of your location.
- Cost-Effective: Enjoy reduced transaction fees.
- Secure Transactions: Protect your finances with our secure systems.
Merchant Services
Point of Sale Systems
- Seamless Transactions: Process in-store payments efficiently.
- Detailed Reporting: Access sales reports to inform business decisions.
Virtual Terminal
- On-the-Go Payments: Accept payments anytime, anywhere.
- Flexibility: Perfect for businesses without a physical storefront.
Invoicing
- Faster Payments: Create and send invoices with online payment options.
- Improved Cash Flow: Receive payments promptly to manage your finances better.
Running a small business comes with its challenges, but you don't have to face them alone. As you prepare for Small Business Saturday, consider the advantages of partnering with a financial institution that understands and supports your vision. Here at Chartway, we're dedicated to helping your business flourish during the holiday season and all year round. With personalized service, tailored solutions, and a commitment to your success, we’re the partner you need.