Female professional baker icing large order of cupcakes
Female professional baker icing large order of cupcakes

BizFlex: cash on hand, when you need a hand

BizFlex line-of-credit and term loans are made to meet your unplanned demands

In business, small victories can give rise to big oversights.

Take the gifted cupcake entrepreneur. It can take her more than three hours to bake and decorate five dozen delicious cupcakes. Yet if she gets an unexpected order for 240 cupcakes overnight, you may be surprised that her biggest concern isn’t finding the time; it’s getting the money to buy all that butter.

Bending to unexpected business demands requires adaptable financing as well as timing. This is especially the case for small and seasonal businesses that can be completely derailed by unforeseen events. So, we’ve created a two-pronged borrowing option just for that. It’s called BizFlex.

We offer BizFlex because one of the most common reasons small businesses fail is lack of funding.1 The business owner may be ready for day-to-day finances, but ill-prepared for an unplanned financial setback…or sudden influx of business. Indeed, 50% of small businesses operate with fewer than 15 days of “buffer” cash (or in the baker’s case, butter cash) to cover unexpected shortfalls.2

Bending to unexpected business demands requires adaptable financing as well as timing.

We call it unsecured lending, but it secures your immediate needs

Our BizFlex borrowing options offer easy-access security because they are unsecured loans, meaning they are free of the restrictions that can stand in the way of healthy business growth. Notably: these options do not require collateral such as inventory or real estate.

BizFlex comes in two flavors, to meet different needs:

BizFlex line of credit (LOC)

Call it a flex cushion. This simple and quick line of credit is essentially a pre-approved pool of cash, up to $100,000, that the borrower can draw upon as necessary over a five-year period. No need to renew, no strings attached. The borrower retrieves only what is needed up to the approved amount – or doesn’t have to tap into it at all. Interest is due only on funds withdrawn – not the full line of credit – and repayments are made in monthly installments.

Our LOC can have your business's back when it comes to:

  • Smaller cashflow needs, such as supplies and utilities.
  • Overdraft protection.
  • Unexpected cashflow interruptions, such as reduced business hours due to employee shortages.
  • Seasonal needs that ebb and flow.

BizFlex term loan

Our term loan is a one-time lump sum, up to $100,000, that a business owner can rely on immediately to cover operations and structural needs. The loan is issued at a fixed interest rate, so business owners can accurately project quarterly costs and budgets while making payments over a set borrowing period – up to five years. Repayments often do begin immediately, however, so calculating the return on investment with your First Financial associate is important.

Our term loan is ideal for:

  • Smaller equipment purchases and repair costs.
  • One-time expenses, such as improvements to an office building or infrastructure.
  • Investments to expand a business.
  • Debt restructuring.

First Financial flexes to make it easier for you

Regardless of which borrowing option suits your business needs, the BizFlex line of credit and term loan both offer the same benefits that matter to business owners focused on profitable growth:

  • A low level of required documents.
  • No assets needed for collateral.
  • Minimal lending fees.
  • Quick approval.

And the money is always at your fingertips – accessible through our app and transferable to your First Financial bank account to protect overdrafts (our business account options include interest checking, analysis checking, and other specialty accounts for niche needs). So you can say “yes” to that big, unexpected order without having to worry about where the purchase money will come from. It will already be there.

BizFlex is intentionally designed to handle the banking part of what makes your venture thrive, so you can focus on the business part of what makes your venture thrive. Borrowers can get approval via our online application form now – it takes 10 minutes to complete.

Interested in learning more about the BizFlex options? Simply click here and apply online.

If you’d like to connect with someone, contact one of our small business and commercial bankers. They're ready for your questions.