Improve cash flow, save time and money and grow your business
Imagine what business might be like if your company received payment for services rendered the very next day.
First National Bank Alaska’s Business Manager® might be right for you and your business.
Business Manager offers companies a way to keep cash coming in, even if invoices are not paid in the immediate future.
Business Manager allows you to sell your commercial invoices to the bank and, at the same time, outsource payment processing. You can have cash in hand in a matter of one or two days after a purchase, instead of the slow process of waiting for an invoice to be paid.
Plus, you won’t have to spend the time and resources involved with collecting payments. First National assumes responsibility for processing payments, mailing statements and receiving incoming payments.
Once you have prepared an invoice, the transaction information is transmitted to the bank to continue processing. First National “buys” the invoice from you.
Business Manager offers several benefits. First, cash is available in a very short time. This not only improves cash flow, but also can help you take advantage of prompt payment or volume discounts.
Second, it may allow you to offer more favorable payment terms to your customers. If you’re not waiting for invoices to be paid to make other purchases, you can give your customers more time to pay.
Third, money management is improved. Because First National provides accounting and reporting, it is easier for you to stay on top of your accounts receivable.
There are also advantages inherent in Business Manager you may not find offered by traditional factoring or a line of credit.
Business Manager is available to newer, growing businesses that may have a hard time getting their credit needs met. It also can help businesses with accounts receivable, something not available through a line of credit.
Upon your request, statements to customers don’t need to reveal First National’s involvement. The whole process can be completely invisible, eliminating any confusion or uncertainty to customers.
Additionally, Business Manager is generally less expensive than traditional factoring.
Business Manager is not right for every business, but can be a big help for those experiencing the need for help with accounts receivables.
It might be a perfect option for manufacturers, wholesalers and transportation businesses, to name a few. To find out if Business Manager might be the key to success for your business, contact First National and we will help you find a system that is right for you.
Many businesses are on the brink of greatness, with cash flow the only thing standing in their way. Find out how First National can help move your business from good to great. Call today.
To learn more about First National’s Business Manager, visit FNBAlaska.com/BusinessManager or contact Tim Breeden (NMLS # 685916) at 777-5607/1-800-856-4FNB (4362) for communities outside Anchorage.
This bi-monthly newsletter is sent to Alaska business owners, managers and community leaders.
The articles and opinions in this publication are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest you consult your attorney, accountant, financial or tax adviser with regard to your individual situation. Entire publication. For publication information, call (907) 777-3409.