First Business®

Your Success Comes First.

BUSINESS CREDIT SERVICES





STANDBY LETTERS OF CREDIT
  • Guarantee by bank as payment for the beneficiary
  • Saves money since a fee is paid instead of interest
  • 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
  • Reduces expenses since it costs less than borrowing funds
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 otherwise would need to pay for in advance
  • Reduces expenses since it costs less than borrowing funds
LINES OF CREDIT
  • Cash management options with low monthly interest-only payments
  • Ability to manage funds with floating interest rate
  • Improved cash flow with low monthly payments
  • Immediate accessibility of available funds
  • Line availability increases as business and collateral grows
HOME EQUITY LINES OF CREDIT (HELOC)
  • Improved cash flow with multiple payment options
  • Convenient: easily accessible with a First Business Bank checking account
  • Improved cash flow due to paying only on amount used
  • Tax benefit for interest paid up to $100,000
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 three years - occasionally 5 years
  • Loan is repaid over period of time; normally less than the lifetime of the collateral
  • Easy budgeting with equal monthly payments
  • Smoothes cash flow for asset purchases
  • Flexibility of rate structure
COMMERCIAL REAL ESTATE - CONSTRUCTION LOAN
  • Low monthly payments
  • Short term
  • Choice of fixed or variable rate
  • 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-PERMS
  • Fixed or variable rate
  • Reduced expenses due to low monthly payments with long amortization
  • Secured by commercial real estate
  • Notes and payments are fixed from 3 to 5 years
  • Multiple rate options to choose from
  • Improved cash flow on regular basis
SBA 7A
  • Bank will more likely approve loan requests otherwise would not -- deal gets done
  • Improved budgeting with long term fixed rate
  • Fixed interest rate reduces risk of rising rates
SBA 504
  • Reduced interest expense due to low loan rates
  • Easy to budget monthly loan payments
RESIDENTIAL MORTGAGES
  • Centralized service with same Business officer handling entire relationship
  • Quick decision making
  • Easy budgeting with multiple payment and rate options
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