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First Business
From commercial real-estate to credit cards, we can handle all of your credit needs…
Lines of Credit
- Improved cash flow and cash management options with low monthly interest-only payments
- Ability to manage funds with floating interest rate
- Immediate accessibility of available funds
- Line availability increases as business and collateral grows
Draw Notes
- Flexibility of purpose and collateral when not all money is spent at once
- Reduced expense due to interest accruing only on balances outstanding
- Various payment options in which loan is repaid over period of time which is normally less than the lifetime of the collateral
- Multiple rate options to choose from
- Simplifies purchase of machinery and equipment
Term Loans
- Note payments are fixed for up to five years - occasionally longer
- Loan is repaid over period of time; normally less than the useful life of the collateral
- Easy budgeting with equal monthly payments
- Smooths cash flow for asset purchases
- Flexibility of rate structure
Commercial Real Estate — Construction Loan
- Low monthly payments
- Short term
- Convenient budgeting since no principal payment is required until completion, when rent payments are received
- Choice of rate type
- Ability to manage cash flow on regular basis
Commercial Real Estate — Mini-Perm
- Fixed or variable rate
- Reduced expenses due to low monthly payments with up to 25 year amortization
- Secured by commercial real estate
- Notes and payments are fixed up to 5 years, occasionally longer
- Multiple rate options to choose from
SBA 7A
- The SBA's guaranty helps banks approve loans that it otherwise might not
- Longer amortization period than a traditional bank loan with similar purpose
SBA 504
- The SBA's guaranty helps banks approve loans that it otherwise might not
- Reduce interest expense due to low loan rates
- Lower owner equity requirement
Standby Letters of Credit
- Guarantee by bank as payment for the beneficiary
- Saves money by reducing expenses since it costs less than borrowing funds
- Interest accrues only if drawn upon
- Satisfies requirement set by vendor or other interested party
- Ability to purchase and sell goods that otherwise would need to be paid for in advance
Documentary Letters of Credit
- Various options used in international commerce: transferable, partial shipment, revolving; back to back in which credit can be used as collateral, or red clause in which credit can be drawn against before shipping
- Increases cash flow since interest is only charged once draw is made
- Ability to purchase goods and services that otherwise would need to pay for in advance
- Reduces expenses since it costs less than borrowing funds
Business Credit Cards
- Multiple credit limits for individual needs aggregated at company master level
- Credit line can be divided among many credit cards based on purchasing needs
- Easy access to account information online
- Payment can be made at First Business Bank or on-line
- Easy to manage employee expenses
- Ability to create reports with on-line service
- High level of client service - First Business Bank personnel answer questions and service accounts, not a national call center
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The FBIZ Advantage is a resource center geared to help you with all your business needs.
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