Starting a small business comes with many financial decisions, and choosing the right bank is one of the most important. The right banking partner can help streamline your finances, reduce fees, and provide the tools needed for growth. In this guide, we’ll explore the best banks for small businesses in 2025, with a focus on Mercury and Lili—two excellent choices for entrepreneurs.

Best Banks for Small Businesses

1. Mercury – Best for Tech Startups & Digital Businesses

Mercury is an excellent choice for startups and online businesses. It offers a fee-free, digital-first banking experience tailored for modern entrepreneurs.

✅ Key Features:

• No monthly fees or minimum balance requirements.

• Free domestic and international wires.

• Virtual and physical debit cards.

• Advanced integrations with Stripe, QuickBooks, and other tools.

• Automated cash management and treasury options for scaling businesses.

Why Choose Mercury? Mercury is perfect for tech startups, e-commerce businesses, and digital entrepreneurs looking for a powerful, modern banking solution with no hidden fees.

2. Lili – Best for Freelancers & Solo Entrepreneurs

Lili is designed specifically for freelancers, solopreneurs, and small business owners who need a simple, all-in-one banking solution.

✅ Key Features:

• No monthly fees or minimum balance requirements.

• Automatic expense categorization and tax-saving tools.

• Instant payment transfers with no extra cost.

• Free overdraft protection up to $200.

• Seamless integration with accounting software.

Why Choose Lili? Lili is an excellent choice for independent contractors, freelancers, and gig workers who want a hassle-free banking experience with built-in financial tools.

How to Choose the Right Bank for Your Business

When selecting a business bank, consider the following factors:

• Fees & Pricing: Avoid banks with high monthly fees or transaction charges.

• Ease of Use: Look for an intuitive online banking platform.

• Integrations: Ensure the bank works with your accounting and payment systems.

• Business Tools: Expense tracking, invoicing, and cash flow management features are a plus.

Final Thoughts

Both Mercury and Lili offer exceptional banking solutions for small business owners in 2025. If you’re running a tech startup or online business, Mercury is a top choice. If you’re a freelancer or solopreneur, Lili’s tax-saving tools and simple banking interface make it a great fit.

No matter which you choose, having the right bank can make managing your business finances easier, allowing you to focus on growing your company.

🔗 Sign Up for Mercury: Mercury.com
🔗 Sign Up for Lili: Lili.co