Working Capital Finance

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How is your business supposed to grow when it takes so long to collect accounts receivable? What do you do when you need quick access to working capital, but don't want to take on more debt and dilute your equity?

Cash flow is a common problem for many companies - both large and small. If you're in business-to-business sales or service and if any of the situations below sound like your company, First Citizens Working Capital Finance may be the solution to many of your cash flow challenges:

• Your growth potential is limited by slow turnaround on accounts receivable.
• Your cash flow does not match your sales.
• You have excessive overhead for credit checks, credit approvals and accounts receivable management.
• You are experiencing a period of rapid growth.
• You have seasonal sales variations.
• You are generating great business sales, but haven't yet turned the corner from operating losses to net profit.
• Your cash constraints force you to pass up profitable opportunities.

Working Capital Finance combines credit and collections of accounts receivable and provides your business with immediate cash flow.

• Immediate Cash Flow: First Citizens purchases your accounts receivable and makes cash available to you as soon as an invoice for goods and services is created, verified and accepted by the debtor. You get improved cash flow through same day funding.
• Reserves: Remaining reserves are paid on collected balances on the 15th and last day of the month (or weekly by request).
• Non-recourse: First Citizens assumes the responsibility of collecting the debts.
• Competitive Advanced Rates: Our initial advance of funds to you is between 70% and 90% of the invoice amount.
• Costs: Charges are only incurred if you use our Working Capital Finance service. There are no hidden fees, no monthly minimum requirements and no lengthy contracts.
• Flexibility: You decide how often you need to use our Working Capital Finance service, with which customers, how much and how long.

Ready to Get Started? That's easy too!

To apply for Working Capital Finance,

1. Click here to access the application,

2. Click here to access the Personal Financial Statement,

3. Complete and sign the application and Personal Financial Statement, and mail the forms to
   
       First Citizens Bank
       Working Capital Finance
       PO Box 4715
       Greensboro, NC 27404

Your account will typically be established and you'll receive your reporting materials within 10 days.

Click here to request more information about Working Capital Finance.