Any business that wants to quickly turn receivables into usable cash could benefit. The ability to expedite receivables on a daily basis and process them directly from the mail can shave up to a week off the deposit process. An employee gathers the ... more

It would depend on the need and/or demand for the proposed end product. Although guidelines are stricter, there may be some opportunities for certain property types to be developed or business owners not directly affected by the existing market ... more

Merchant services, such as e-check, help curb fraud and improve transaction security. E-check is the ability to convert a check into an electronic transaction in order to speed up the availability of your funds. Typically, you can also opt to have ... more

Banks have a number of products with different terms and maturities based upon the specific needs of the business. The most common are lines of credit (usually renewable on an annual basis, with interest typically tied to an index), term loans ( ... more

As an adviser, a banker is a great resource for exploring alternative investment avenues, learning ways to manage cash or talking about retirement plans. Whether it is with FirstMerit or any other bank, your banker should be your confidant. He or ... more

Interest rate hedging products offer customers flexibility, portability, and typically an opportunity to minimize loan prepayment fees. An interest rate swap for example effectively turns a floating rate loan with variable payments into a fixed rate ... more

There are three basic vehicles, although there are variations upon these three. The first type is a spot transaction, which is the immediate buying or selling of one currency for another. Using the market price today, settlement usually takes place ... more

A foreign currency exposure is typically created when a company imports, exports or establishes an offshore physical presence. Due to potential valuation change from one currency to another, the result is currency risk. This risk will require active ... more

It depends on the financial institution, but typically, a line of credit under $125,000 does not require collateral to secure the loan. It will require a personal guarantee from the business owner, however. Larger lines of credit do require ... more

Generally, business loans may be secured by the business’s assets, including equipment or contracts negotiated in advance of the loan application. What documents to banks require of commercial loan applicants? Lenders will ask applicants for a ... more