When starting a new business, it is helpful to have purchase spending cards that are solely reserved for corporate expenses and not mixed in on employee’s personal credit cards. There are a few reasons for this, including ease of distinguishing personal from business activities, not having to reimburse employees and easier management of tracking annual business expenses.
In many circumstances, it can be difficult for a new business to secure credit with a bank. Especially when a business owner has left their previous career to become an entrepreneur and technically does not have an income to speak of, it can be hard to qualify for credit. In addition, business credit cards are not covered under the 2009 CARD Act, a federal legislation that protects consumers against shifting due dates and interest rate hikes.
When launching a new business, it is essential to have the ability to purchase equipment, pay for services and facilitate employee spending smoothly and without hassle. More and more, new business owners are choosing to use prepaid company debit cards to simplify spending and control their operating expenses.
Prepaid Company Debit Cards for Simple Expense Management
With the Emburse platform, prepaid company debit cards can easily be issued for each employee or contractor with a few simple clicks of a mouse and by providing their full name and email address. There are no credit applications, credit checks or limits to the amount of funds that can be spent. Business owners are able to approve purchase requests from employees, preload funds onto the business debit card and track purchases in real-time.
Get Started on the Right Track
In addition to the user-friendly software and detailed expense reporting features, using Emburse prepaid company debit cards offers new businesses a unique advantage - starting from the beginning with an exceptional expense management control system and eliminating the possibility of employee misspending from day one.
If you are a new business owner and would like to see the advantages of using the Emburse prepaid debit card system, contact us today. We would be happy to show you a demo and help you get started.