Pre-seed and seed-stage companies can receive up to 3.00% interest rate (3.04% APY) or $1,000 bonus
Bridge Bank is adding even more benefits for Startup Banking clients with a new Bridge to Growth Money Market Account featuring a 3.00% interest rate (3.04% APY) and a $1,000 bonus for new Bridge to Growth Analyzed Business Checking Account clients.
“Our Bridge to Growth Money Market Account is an exciting extension of Startup Banking, designed specifically to help early-stage startups and founders maximize their cash flow and achieve their goals”
“Our Bridge to Growth Money Market Account is an exciting extension of Startup Banking, designed specifically to help early-stage startups and founders maximize their cash flow and achieve their goals,” said Kelly Caviglia, vice president in Bridge Bank’s Startup Banking program. “Especially in an environment of market uncertainty, we recognize the need for startups to make every penny count. That’s why we’re offering one of the industry’s most competitive money market products with this advantageous rate for our startup and early-stage clients, along with our trademark emphasis on relationship-based, personalized banking for each client.”
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Money market accounts allow founders to grow their money faster than a basic savings account without the insecurity of traditional investment accounts. Bridge Bank’s rate of up to 3.00% interest rate (3.04% APY) for clients with at least $1 million in funds stands out in the industry, where most banks offer rates of 2% or less for high-balance accounts. Nationally, as of July 18, 2022, money market accounts averaged 0.12% APY, according to the Federal Deposit Insurance Corporation (FDIC).
New Bridge to Growth clients with smaller balances will receive a one-time $1,000 account credit for maintaining a balance of at least $250,000 in their Bridge to Growth Analyzed Business Checking Account for at least three months. Companies can take advantage of both offers if they meet each requirement.
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“We believe young startups benefit significantly from working with bankers who focus on startups, offering tailored services for the earliest phases through the growth stage and pre-IPO,” Caviglia added. “Our specialized Startup Banking relationship managers understand the growing pains and opportunities that emerging startups face. Along with financial products, lending capabilities and venture debt offerings, we deliver the power of connections, including linking startups to the best industry resources for their needs.”
Bridge to Growth is available to pre-seed and seed stage tech and innovation startups that will benefit from working with an experienced team. Bridge Bank Startup Banking includes a deposit account and tools with waived fees for three years, savings and advice from Bridge Bank and its partners across the tech ecosystem. The Startup Banking program offers customized debt facilities and a full suite of treasury management capabilities.
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