This article was sponsored by Chase. You should assume we have a financial relationship. The opinions expressed here are my own and have not been edited by Chase.
If you are a veteran entrepreneur looking for a business checking account that understands military service, have a look at the Chase business checking military benefits.
Many US military servicemembers, myself included, run a business while serving in the National Guard, Reserves, or even active duty.
Chase supports veteran entrepreneurs who served in the Army, Navy, Air Force, Marines, and Coast Guard.
Whether you are or were active duty, National Guard, or in the Reserves, you are eligible for these Chase bank military benefits.
Chase Business benefits for US military veterans include:
- Chase Business Checking: monthly service fee waived ($180/year)
- Business line of credit: annual fee waived for the first year
Chase supports military and veteran business owners through their Chase Business Checking account. The Business Checking® monthly service fee of $15 is automatically waived for all eligible veterans and servicemembers.
Who is Eligible for Chase Business Military Banking?
Chase Business Military banking benefits are available to active duty, reserve and veteran military service members of the Air Force, Army, Coast Guard, Marines, Navy and National Guard (and surviving spouses and spouses of deployed military members) with qualifying proof of military status.
Chase's military business banking policy covers all servicemembers and grants them access to exclusive benefits.
Chase Business Checking Account Military Perks
Chase waives the monthly service on the Business Checking account for eligible veterans, servicemembers, and spouses.
Normally this fee is $15 per month or $180 per year. It's always good to save money on your banking products, especially when you're just starting your business.
Other benefits of this Chase Business checking account are:
- 100 transactions per month at no charge, plus unlimited electronic deposits
- $5,000 cash deposit per statement cycle without an additional fee
- Send and receive funds with wire transfers, Chase QuickDepositSM, Chase OnlineSM Bill Pay and more
- Access to Chase OnlineSM Banking and Chase Mobile® Banking
- Chase Business Debit, Deposit and ATM cards offer owners control and provide options for signers and employees to access ATMs and make purchases
- Access to 16,000 ATMs and nearly 4,900 branches
- 24/7 customer service online and over the phone
Chase for Business Military Loan Discounts
In addition to waiving the monthly fees on their small business checking account for veterans, Chase also offers discounts on several lending and funding options for veteran owned businesses. These funding sources include the Chase Business Line of Credit.
Chase Business Line of Credit for Veteran Owned Businesses
A line of credit is useful if your veteran owned business needs access to cash for short-term capital, inventory purchase, supplier payment, or an emergency fund. You only pay interest on the money you actually borrow.
For military veterans, the annual fee is waived for the first year, helping you get your business moving in the right direction. Chase lines of credit are available from $10,000 to $500,000.
Chase Business Term Loan for Veterans
Business term loans are somewhat like mortgages for businesses. You borrow a set amount of money and agree to repay it over a set amount of time at a fixed interest rate.
Chase offers US military veterans a variety of small business term loans. Some of the options include:
- Loans from $5000+
- Fixed or adjustable rates
- Terms from 12 to 84 months (1-7 years)
- Fixed monthly payments to help you budget and plan easier
Chase Business Credit Cards for Military
Chase offers special benefits on their personal credit cards for US military servicemembers and spouses. The Chase MLA policy is in place to comply with the Military Lending Act.
The best Chase business credit card is Chase Ink Business Preferred. Currently it's offering an huge welcome offer – when you transfer these points to a Chase Sapphire Reserve, you can redeem for $1000+ worth of travel in Chase Ultimate Rewards.
You can read my full review of the Chase Ink Preferred and the 3 other best business credit cards for veteran owned businesses.
If you're running a business while on military service or you are a veteran, Chase Bank offers you exclusive benefits. Check out all of their veteran owned small business solutions, including the Chase Business Checking account.