Grasshopper Bank opened its doors in 2019 with a commitment to providing digital banking solutions to small businesses and startup companies. It offers flexible accounts, competitive rates, and various financial tools and services.
What is Grasshopper Bank?
Grasshopper Bank’s primary mission is superior service and cutting-edge business banking technologies and services to small businesses and startups that need flexible financing and money-management options. They offer checking accounts tailored to small businesses, startups, and venture capital-backed companies. They also offer several business loans.
How Can Grasshopper Bank Help Your Business?
Your business deserves the best banking experience available. Grasshopper Bank helps simplify your business finances while giving your more earning power. For example, its small business checking account pays a 1.51% APY rate, and there’s no limit on the balance.
It’s also an SBA-preferred lender and can help you secure financing to grow your business. They’ll even design specialized financing options based on your business needs.
What Does Grasshopper Bank Offer?
Depending on your business type, Grasshopper Bank has several products to consider:
Digital Business Checking
The Grasshopper Small Business checking account takes as little as five minutes to open, pays a 1.51% interest rate, allows for an unlimited number of free ACH transfers each month, can be accessed anytime through your mobile device, and has the option of a VISA debit card that pays 1% cash back.
If your small business is ready to expand or needs to refinance its debt, Grasshopper is an SBA-preferred lender and can help you secure the loan you need.
Grasshopper also offers application program interface solutions that can streamline communication between your bank and the other programs and operating systems your business relies on.
How Does Grasshopper Bank Compare to Traditional Banks?
Traditional banks offer limited options for managing your business finances. They may require you to open multiple accounts, use multiple forms of payment, and maintain separate bank statements. With Grasshopper Bank, you only need one account. All transactions are consolidated into one statement. And there are no monthly maintenance fees. In addition, its digital banking account pays you interest.
Why Choose Grasshopper Bank?
Grasshopper Bank is committed to providing innovative and affordable solutions to small businesses and startups. Here are some reasons to consider it as an option:
- Competitive Loan Rates – When your business needs a loan, Grasshopper Bank’s low-interest rate structure allows you to save money while investing in your business.
- Flexible Account Options – Your digital business banking account should simplify your life and business. Fast account setup, zero fees, and interest earnings make its options appealing.
- Industry Leading Technology – It uses cutting-edge technology to give you more control over your finances and accounts. This means you can easily monitor your spending, track your cash flow, and stay current on your business finances from anywhere.
- Dedicated Team – It has business finance and technology experts who can work with you to create the financing options and tools you need.
Is Grasshopper Bank Worth It?
Grasshopper Bank is dedicated to helping businesses grow by providing innovative digital banking solutions. Their business checking account doesn’t have a setup fee, a minimum balance requirement or a monthly fee. It also pays a small interest to you on the balance in your account, making it an attractive option for small business owners.
How Can You Get Started with Grasshopper Bank?
Whether you’re just starting out or already established, Grasshopper Bank has an easy online application process. Visit their website to open your account, which takes as little as five minutes. Once you’ve completed the application, you’ll receive a confirmation email letting you know whether you were approved. Once you’re approved, you’ll receive instructions on how to access your account.