When First National Bank Alaska Vice President Chris Longacre first visited with Dr. Wade Erickson to discuss Capstone Family Medicine and the Mat-Su’s Meridian Park medical complex, the timing couldn’t have been better.
“Quite serendipitous,” Erickson said. “Chris asked about our current and future financial needs and we started mapping out some ideas.”
The conversation turned to expansion of the medical complex to provide more quality healthcare options for Alaskans in the region.
When you’re ready to expand your business or just want to be ready for the unexpected, the first thing to do is contact your local First National Bank Alaska expert. Together, you’ll break down your business plan and learn about available loan options to help keep your company growing.
Here are just a few of those options:
Electronic Health Records conversion
• Financing options to help Alaska’s healthcare providers convert to Electronic Health Records (EHR).
Equipment and vehicle loans
• Keep your competitive edge with an equipment loan. Purchase computers, vehicles, heavy equipment or other machinery. Repayment terms will be dependent upon type and age of collateral.
• Whether you need more inventory for growth or seasonal demands of “just in case”, this loan can help you keep plenty of stock on hand. Inventory financing is also convenient for businesses in remote locations.
Pay off the loan through the sale of financed goods. Collateral is usually the inventory financed, though additional collateral may be required.
Letters of credit
• Documentary and stand-by letters of credit are arrangements often used by import/export businesses, contractors and travel agencies to serve as assurance of payment. Documentary letters of credit are usually for less than six months. A stand-by letter of credit may be renewed annually.
Revolving line of credit
• Meet working capital needs or bonding requirements without having to go through the application process each time with the help of a revolving line of credit. Frequent borrowers such as manufacturers, service companies and contractors use this loan.
Collateral and repayment terms are established on an annual basis and tailored to your needs.
Visit FNBAlaska.com/business-solutionsor call 907-777-4362/1-800-856-4362 for more information.
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.