Business Lines of Credit
Help your business manage its cash flow needs with working capital and asset-based lending from MidFirst Bank.
- Finance receivables
- Manage seasonal cash fluctuations
- Flexible repayment structures available
Working Capital Loans
- A committed credit facility allowing your business to borrow, repay and borrow funds again as needed
- Advance and repay principal to match the cycle of your company’s collection of assets
- Working capital loans may be permanent or you may wish to structure the line to reduce over a specified period
- Can be structured with a maturity longer than 12 months, options typically include converting all or a portion of the amount outstanding to a term loan
Asset-Based Lending
- Accounts receivable and inventory financing in which the level of borrowing is controlled by a formula or “borrowing base”
- Ideal for financing high-growth companies, mergers and acquisitions, and leveraged or management buy-outs
- Asset-based loans typically involve ongoing collateral reporting and monitoring
Loan Sweep Service
- Link your line of credit directly to a designated MidFirst Bank deposit account to help avoid overdrafts and reduce overall interest expense by paying down balances when excess funds are available
- Funds are automatically drawn from the credit line to cover a deficit in the deposit account or excess deposited funds are transferred to reduce the line of credit balance