business-banking

Vocabulary Word

Definition

'Business banking' is a term for the range of services a bank provides specifically for businesses. It can involve tasks like processing payments, offering loans, or helping with investments and financial planning.

Examples in Different Contexts

In banking, 'business banking' is targeted at small to medium enterprises (SMEs) providing specialized products and advisory services. A bank manager might explain, 'Our business banking division is dedicated to supporting SMEs with tailored financial solutions and guidance.'

Practice Scenarios

Design

Scenario:

We need to invest in new design software and perhaps a better workspace. Any ideas on how to finance this?

Response:

With business banking, we can apply for loans that could finance these investments.

Tech

Scenario:

To keep pace with the technology landscape, we may need to upgrade our hardware and software. What can we do?

Response:

We can leverage business banking to secure loans for our hardware upgrades and new software purchases.