Working Capital Lines of Credit
Fidelity Bank is an industry leader in providing working capital lines of credit. A line of credit is a cost-effective approach if your business needs ongoing credit to fund working capital and accounts receivables, or to manage inventory. With a line of credit, your business can handle unexpected cash needs and take advantage of vendor discounts by having access to cash when you need it.
Used to finance your business’s capital expenditures for machinery, equipment, leasehold improvements, or to make an investment in a base level of inventory. A term loan allows your business to conserve its cash and/or credit line while paying a competitive price for equipment.
As a Small Business Administration (SBA) Certified Lender, Fidelity Bank receives a quicker turnaround on applications submitted to the SBA. SBA loans are available under several different programs that allow a company to finance inventory and equipment purchases, meet seasonal working capital needs, and purchase real estate.
A highly specialized loan product Fidelity Bank offers to finance an employee stock ownership plan (ESOP). This type of loan is often used to provide an owner the opportunity to pull cash out of an existing business.
Letters of Credit
Letters of credit are provided to clients who need to reduce payment and performance risk. Most often a letter of credit is used to enhance domestic and international trade arrangements between a buyer and a seller.