BusinessManager

As David Sheffrey got to know First National Bank Alaska bankers Tim Breeden and Syl Fowlis, he quickly learned of the advantages BusinessManager® afforded his company, Commercial Kitchen Solutions LLC.

“Initially, I was hesitant because it seemed like other entities would be too involved in our business,” Sheffrey said. “But it’s not that way at all. The program is cost effective and keeps projects going.”

BusinessManager offers companies a way to receive cash, even if invoices are not paid in the immediate future.

How it works

BusinessManager allows a company to sell commercial invoices to the bank and, at the same time, streamline payment processing with a lockbox service. Businesses get most of their cash the same day they bill, instead of waiting for an invoice to be paid.

In the case of Commercial Kitchen Solutions (CKS), the program allowed Sheffrey to take on more large jobs when he first started the business. BusinessManager provided the needed cash to pursue those prospects.

First National processed payments, mailed statements, received incoming payments and notified CKS of those payments. Sheffrey concentrated on running and growing his business instead of being concerned with cash, while CKS saved time and resources involved with traditional banking.

BusinessManager benefits

· Improve cash flow
Predictable cash flow can help with a growing payroll, provide opportunities for discounts with suppliers, and the flexibility to pursue new business opportunities including expansion. It also gives business owners peace of mind.

· Grow your business
Better cash flow and more time allows you to safely take the plentiful opportunities for growth. You'll be able to buy new equipment, increase your staff, invest in marketing and offer new services.

· Save money and time Take waiting out of the game. Outsource the process to a proven expert and re-allocate staff to more profitable areas. In addition, you’ll most likely see an improved customer experience.

“BusinessManager has always worked beautifully for us,” Sheffrey said.

To learn more about First National's BusinessManager. visit FNBAlaska.com/business_advantage.html or contact Tim Breeden (NMLS # 685916) at 777-5607/1-800-856-4FNB (4362) for communities outside Anchorage.

Business Advantage Newsletter
In This Issue

This bi-monthly newsletter is sent to Alaska business owners, managers and community leaders.

Phone: 907.777.4362
Toll-free: 800.856.4362 www.fnbalaska.com
send us e-mail

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.

 

FIRST NATIONAL BANK ALASKA
PO Box 100720 · Anchorage, Alaska 99510-0720
Local Phone: 907-777-4362 · Toll Free: 1-800-856-4362
customer.service@fnbalaska.com