One of my preferred business credit lenders who get it right when it comes to small business and has the track record to prove it is Regions Financial Corporation. Despite the current economic times this lender has continued its small business lending and recognizes the important role that small businesses play during recovery. According to Tim Laney, senior executive vice president and head of Region's Business Services Group, "Small businesses are the engine of our economy and Regions has a long track record of providing capital to small businesses along with solutions to help small business owners manage all of their financial needs." Don't just take it from me in a yearly study measuring banks' strength on small business lending the SBA ranks it number three among the large U.S. banks for the sixth consecutive year! It also happens to be at the number one slot for small business lending in Alabama and Tennessee. With such an impressive track record it shouldn't surprise you that Regions Bank is also behind the new business credit cards being offered by CSI Business MasterCard. CSI is a 21 year old company that specializes in corporate financial products and has also got it right when it comes to business credit cards and payment solutions for business. Not only do they offer several payment solutions for companies that have been in business for several years but also offer an array of products for startup companies or companies with less than perfect credit. One card that got my attention in particular is the CSI MasterCard Corporate Card. This card was responsible for one of our country's leading candy bar manufacturers to move away from paper check reimbursement to an integrated electronic credit card program. This not only allowed this major manufacturer to automate its merchant reimbursement program but also eliminated the use of paper which is great for our environment. CSI Enterprises, Inc recently launched a new business credit card web site offering fleet credit cards, incentive cards, e-payables, and corporate purchasing cards for businesses. Here's a brief overview: - Global Business MasterCard - a card designed for purchases made by employees on behalf of your business with control over all aspects of spending. This card is similar to a charge card because there are no finance charges and the account must be paid in full each billing cycle. - Global Fleet Master Card - a card designed for fuel purchases and provides you fuel discounts with over 30,000+ retail and truck stop merchants. - Global Secured Master Card - fantastic card to obtain credit for a new business with prefunded or secured options. Requires a $1,000 minimum deposit to get started and reports to Experian Business. - Virtual Master Card -this is an electronic payment solution card for vendor settlements. - CSI Incentive MasterCard - these are simply prepaid reloadable cards that you can use for employees or customers. These cards can assist in establishing credit for a new or existing business while giving you the tools you need to manage your company expenses. Take a careful look at each of these cards and decide which one would best fit the needs of your business. When banks like Regions get it right by issuing new business credit cards and business credit loans through all economic cycles, including the recession in order to support the small business engine other business credit lenders should pay close attention.
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