Content provided by First National Bank
Even the most successful business can find itself with limited borrowing capacity. Perhaps you are just starting out, emerging from a rough patch or your business is highly seasonal, to name just a few potential reasons. Whatever your business’ position, the ability to secure financing when needed can make all the difference.
With the right banking partner, there are flexible financing options available to help companies with less traditional credit profiles grow and succeed. Building a relationship with a dedicated banker can give your organization the guidance to choose the right option.
Asset-based lending — lending based on the assets owned by the business — is an excellent option if your company is in high-growth mode and is also very working-capital intensive. This could be the case for a company that has a large book of receivables and needs to acquire inventory or equipment to support its increasing business. The vendor payments will obviously be a big drain on working capital, which could put a damper on growth without a credit infusion.
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