The most common cash credits offered by First Bank are:
Overdrafts
You are carrying out an activity where cash inflows and outflows are spread out in time. This time lag gives rise to important financial needs. Through the overdraft, the First Bank provides you with cash reserves necessary for the smooth running of your business.
Overdraft facilities
You are expecting a specific inflow of cash but you are faced with an emergency expenditure. Through this mode of financing, the First bank helps you to solve this problem by placing at your disposal the liquidity you need.
Commercial discounts
The nature of your activity makes you to give credit to your customers that you mobilize through commercial bills (bill of exchange or promissory note) over 1 month, 2 months, even 4 months. These time limits often come to add to a more or less long cycle of production, while the suppliers’ deadlines are generally very short. As such, your finances are destabilized. First Bank permits you to readjust your finances by placing at your disposal the corresponding liquidity. You can therefore respect your deadlines (suppliers, tax, national social insurance fund etc…) with ease by discounting your commercial bills with the First Bank.
Public Contracts Credits
Your activity consists in executing public contracts (state, local communities like councils, divisions, provinces, administrations and public or parapublic companies) in the order forms or letters. The long deadlines in the treatment of your invoices or your detailed accounts destabilize your finances and give rise to funding needs. We place at your disposal fresh cash to continue the work in order to enable you to respect deadlines and avoid lateness-related penalties.
We can equally grant you pre-financing credits that will provide you with part of the funds necessary for takeoff expenses (notably stocking). Considering our expertise in this domain, we shall assist you in the management of your finances.
Investment credits
This aspect is destined for the financing of shareholders’ funds of companies in the phase of increasing, diversifying or modernizing their production tools. This financing covers areas as varied as the purchase of production equipment and tools, commercial buildings and many others things.
Seasonal credits
You are carrying out a seasonal activity that causes a big discrepancy between the expenditure you have to commit and the expected cash inflow. This imbalance inevitably gives rise to needs. Most often, you are unable to meet these needs. Your bank, the First Bank, is there for you and is disposed to place at your disposal the liquid assets you need for the financing of your farm activity.
Spot credit
You need a cash advance for the duration of a few days, even a few hours. Through this type of loan, the First Bank enables you to take care of this on-the-spot need, with the advantage that its cost is less than the overdraft.
Bridging loan
Very often, it happens that formalities to carry out certain financial transactions that can permit you to have liquid assets are very long. This is the case with formalities related to capital increase, transfer of a property of your patrimony or releasing a line of funding obtained from a financial donor. Sometimes you immediately need funds corresponding to these transactions. The First Bank, your bank, is by your side to place at your disposal the funds that correspond to the financial transaction envisaged while waiting for the completion of these formalities.
Advance on stock
You have goods in stock in your own warehouse or in the premises of a third party (general or transit warehouses). This stocking has inevitably absorbed a good part of your finances and you need financial support to continue to develop your business. There is no need for you to worry! The First Bank can give you an advance on the basis of these goods.
Advances on invoices or on detailed accounts
If you have supplied a good, provided a service or executed a contract whose payments are segmented in the form of detailed accounts, it may happen that these payments are spread over time with deadlines that can vary between 15 days, one month, even several months. During this period, you need liquid assets to pursue your activities. We are ready to place at your disposal the funds you need in the form of advances on your invoices or your detailed accounts.
We remain at your disposal for all your specific cash advance needs, for we have a wide range of funding means in this domain.
