Mercantile Bancorp. has introduced a credit card for small-business owners.
The MasterCard BusinessCard offers secured and unsecured credit lines, allowing the card to substitute for a traditional small-business loan or line of credit. Credit life and disability insurance are available through the card, and account information is available over the Internet.
The bank is testing the card in St. Louis and plans to bring it to Kansas City, Little Rock, Des Moines, and eventually all six states where it does business.
The card "provides our clients with a new funding alternative for making business purchases and improving cash flow," said Mitch Baden, president of Mercantile's business banking division.