Access working capital while keeping interest charges in checkOne challenge for successful companies is that rapid growth outpaces their ability to internally support ongoing cash needs. A First American Asset-Based Loan may provide the ideal solution. Even if you lack fixed assets, you can offer accounts receivable and inventory as collateral. The upshot is you gain access to a credit line that serves as an exceptional cash management tool. Here's how it works:
- A revolving line of credit is extended to you by First American Bank.
- First American uses these funds to pay down the loan, which minimizes your interest expense and helps you to more efficiently manage your finances.
- As you need funds to pay bills, purchase inventory, etc., you continue to draw on your credit line.
- Through our monitoring of your account, we can provide detailed reports tracking trends in sales, collections and accounts receivable turnover.