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Business owners: Achieve more with a Flourish Cash account


April 7, 2025  

Estimated reading time: 3 minutes

 

Cash flow for a small business can be volatile and business owners recognize that reserve funds provide a safety net for times of uncertainty or when unexpected expenses arise. 

 

Key takeaways:

  • Businesses of all types have added Flourish Cash† to their financial management toolkit, including nonprofits, medical offices, homeowners associations, rental property LLCs, investment partnerships, and more.
  • Small businesses need cash on hand for a variety of reasons, from paying quarterly taxes to planning for year-end profit-sharing distributions to saving for capital expenditures.
  • Many business banking accounts offered by traditional banks have low interest rates and challenging limitations, including transaction fees, minimum balances, and the standard $250,000 FDIC insurance limit. In contrast, Flourish Cash offers the same great rate, flexibility, and experience to business owners as personal wealth clients.
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Typical business banking challenges:

Although small businesses — defined as organizations with fewer than 500 people — represent 99.9% of all companies in the U.S., they often struggle to find banking solutions tailored to their needs.1

Large financial institutions, which have historically dominated the banking landscape, are well-versed in serving individual retail clients and large commercial banking customers. However, this paradigm has left small businesses without a solution that’s truly tailored to their needs.

Many business banking products offered by traditional banks have significant limitations, ranging from account minimums to low interest rates. Some may cap the number of fee-free monthly transactions or otherwise limit withdrawals. It’s not uncommon to see charges for essential business banking services, like ACH transfers.2

Within their own four walls, small businesses face additional challenges in managing their finances. Unlike their larger corporations, they often do not have dedicated finance teams, which may lead them to focus on managing the basics, such as cash inflow and outflow, rather than exploring opportunities to grow their business through strategic financial management. Without an in-house team, these small businesses may struggle to hold adequate reserves to meet short- and medium-term needs while remaining below the $250,000 FDIC-insured limit.

 

How Flourish Cash solves for these common business banking hurdles:

With Flourish Cash, business owners have access to a flexible cash account without the limitations of a traditional bank. A Flourish Cash business account offers all the same benefits of personal Flourish Cash accounts:
  • No fees ∫∫
  • No minimum balance requirements
  • Unlimited, same-day transfers|
  • Competitive APY that is up to 9x more than the national savings account average#
  • Up to $6 million in FDIC insurance coverage through our Program BanksΩ

A Flourish Cash business account also offers clients versatility. For the business owner looking for an account to hold funds for their immediate needs – while still earning a competitive interest rate that can meaningfully contribute to profits – they are better served with unlimited, same-day transfers. For those looking for a more secure solution for medium- and long-term cash needs, they have access to an account that offers up to 24x more FDIC coverage through our Program Banks. For those working for a nonprofit looking for a way to maximize every dollar, moving funds from a traditional bank offers the opportunity to earn an interest rate up to 9x higher, which can translate to expanded initiatives. 

Is Flourish Cash right for your small business?:

A Flourish Cash business account is suited for businesses of all shapes and sizes — any corporation, nonprofit, LLC, or partnership is eligible to use a Flourish Cash account. Our clients include:
  • Small businesses
  • Non-profit organizations
  • Medical offices
  • Solopreneurs
  • Homeowners associations
  • Rental property LLCs
  • And much more

How you use the account for your business is up to you. A Flourish Cash business account typically holds reserve cash, but the use cases vary from business to business:

  • Businesses with an equity partnership model can earn interest on their annual profit-sharing contributions prior to distribution
  • Non-profit organizations often maintain a portion of their endowments in cash 
  • Homeowners associations or rental property LLCs can hold HOAs or reserves for repairs, development, or capital improvements
  • Solopreneurs, which account for 81.7% of all small businesses, can centralize their financial life by holding business cash in a Flourish account
  • Businesses of all types use their Flourish Cash account to save for medium-term business costs, such as quarterly tax payments, short-term liabilities, or funds earmarked for business expansion

A Flourish Cash account is visible to your financial advisor. This provides them with a comprehensive picture of your personal and business holdings, empowering your advisor to offer more tailored and informed financial guidance.

Ready to learn more about Flourish Cash? Check out our product page, then chat with your financial advisor about setting up a Flourish Cash account for your business or get started with the instructions above.

 

How Flourish Cash has helped businesses:

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About Flourish

Flourish builds technology that empowers financial advisors, improves financial lives and retirement outcomes, and delivers new and innovative investment options to advisors. Today, the Flourish platform is used by more than 950 wealth management firms representing more than $1.5 trillion in assets under management. Flourish is wholly-owned by Massachusetts Mutual Life Insurance Company (MassMutual). For more information, visit www.flourish.com.

 

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Flourish is an online platform through which investors can access financial services and products. Flourish’s offerings are provided by different entities and are subject to different terms, investor protections, and risks. Flourish Cash is offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. Flourish Annuities refers generally to the annuity platform operated by Flourish Technologies LLC and to Flourish Insurance Agency LLC, and, where applicable, Flourish Financial LLC. Flourish Insurance Agency operates in its capacity as a licensed insurance producer with offices in Jersey City, New Jersey, and does business in California under the name Flourish Digital Insurance Agency, providing insurance services related to such platform. Variable annuities, defined in this context to include Registered Index-Linked Annuities (“RILAs”), are offered through Flourish Financial LLC. Annuities shown on the platform are sold through Flourish Annuities, and are issued by one or more licensed insurance companies. The Flourish entities mentioned above are affiliates. Flourish Cash and Flourish Annuities accounts are separate accounts and only assets in Flourish Cash accounts may be eligible for protection by the FDIC or SIPC. Please review the Legal section of our website, and the disclosures provided with each Flourish service or product for further information. If you were introduced or invited to Flourish by an investment advisor or other third party, please be aware that, unless otherwise disclosed to you, they are not affiliated with any Flourish entity. The role of the investment advisor or other firm that invited you to Flourish may vary between different Flourish services and products, as further described in your terms of service. © 2025 Flourish. All rights reserved.

† A Flourish Cash account is a brokerage account offered by Flourish Financial LLC, a registered broker-dealer and FINRA member. Flourish Financial LLC is not a bank. Check the background of Flourish Financial LLC and its personnel on FINRA's BrokerCheck. The cash balance in a Flourish Cash account will be swept from the brokerage account to deposit account(s) at one or more third-party Program Banks that have agreed to accept deposits from customers of Flourish Financial LLC. The accounts at Program Banks will pay a variable rate of interest.

∫∫ Advisory firms may charge fees that are collected from Flourish accounts and that may impact the effective rate received. Speak with your advisory firm for more information. Wire fees may apply.

| For transfer requests submitted by the applicable deadline, funds will generally be transferred to or from the requested external account by the same or next business day, except for requests submitted on the weekend or on a holiday, which should be completed by the following business day. In some circumstances, transfers may take longer to complete, as further described in your Account Agreement. For withdrawal requests, fund availability is subject to the processing timeline of the receiving financial institution and may not be displayed or available until the end of the financial institution’s business day. 

# Federal Deposit Insurance Corporation, National Deposit Rates: Savings [SNDR], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SNDR, February 20, 2025.

Ω The cash balance in a Flourish Cash account that is swept to one or more Program Banks is eligible for FDIC insurance, subject to FDIC rules, including aggregate insurance coverage limits. FDIC insurance will not be provided until funds arrive at the Program Bank. There are currently at least 24 Program Banks available to accept deposits for business Flourish Cash accounts and personal Flourish Cash accounts, and we are not obligated to allocate customer funds across more than this number of Program Banks if there is a greater number of banks in the program. Customers are generally eligible for FDIC insurance coverage of $250,000 per customer, per Program Bank, for each account ownership category. Thus, business customers are eligible for up to $6,000,000 of FDIC insurance and personal customers are eligible for (i) up to $6,000,000 of FDIC insurance for an individual account or revocable living trust account and (ii) up to $12,000,000 of FDIC insurance for a joint account with two owners or joint revocable living trust(s). The total FDIC coverage for a two-person household is calculated assuming that each household member has an individual account and that both household members share a joint account. If the number of Program Banks decreases for a customer (for instance, because a customer chooses to exclude Program Banks from receiving their deposits), the amount of FDIC insurance through Flourish Cash could be lower. Typically, all of a customer’s deposits at a Program Bank in the same ownership category (including deposits held outside Flourish Cash or held through multiple Flourish Cash accounts with the same ownership category) count toward the FDIC insurance limit for deposits at that Program Bank. Customers are responsible for monitoring whether they maintain deposits at a Program Bank outside of Flourish Cash and should consider choosing to exclude that Program Bank from receiving their deposits to avoid exceeding FDIC insurance limits. Although Flourish Cash is offered through a brokerage account and cash held in brokerage accounts often has the benefit of SIPC protection, until such time as we offer securities products, customers likely will not have the benefit of SIPC protection. SIPC protection is not available for cash held at the Program Banks. Our current Program Banks can be found here. For additional information regarding FDIC coverage, visit https://fdic.gov/.

± This feedback may not be representative of the experience of other customers, and is not a guarantee of future performance or success.

1 U.S. Small Business Administration Office of Advocacy. “Frequently Asked Questions.” March 2023.

2 Fontinelle, Amy. Investopedia. “What are the withdrawal limits for savings accounts?” May 30, 2024.