It keeps your business and personal finances separate, which also gives you some liability protection
It makes tax time easier since all your expenses run through one account, giving you a clear paper trail and making deductions simpler to claim
It gives you a clearer picture of your cash flow, so you always know what is coming in and going out
If you are structured as an LLC or corporation, most funders will also require business bank statements or a connected business account as part of the financing process. Having one in place before you apply can save you time and help move things along faster.