Today’s Financing Climate: What to Know Now

As the world becomes increasingly interconnected, businesses have many opportunities to make the most of their banking and financial choices. In the last few years, the world and economy have faced complex new circumstances, and we’ve moved from a years-long, low-interest-rate environment to a climate of higher rates, led by the Federal Reserve’s interest rate increases.

Meanwhile, banks have stayed in step with new technologies and the latest banking solutions. If your company is looking for business financing or treasury management solutions, here’s what you need to know. 

Full-Service Banking Support

As companies become more global and complex, they require more sophisticated financial services to help them manage their operations. This has led to a growing demand for specialized services such as tailored treasury management solutions, business escrow services to support mergers and acquisitions and other transactions, risk management and fraud protection services. Having a full relationship with your bank — encompassing treasury management as well as financing — provides your bankers with a more complete picture of your business and may result in a broader selection of financing options. 

Business Financing Options

In a rising interest rate environment, particularly where credit may be tighter than in the past, businesses and bankers must assess financing needs carefully. Business financing can provide your company funding at the best possible interest rates and terms. There are various methods of financing, such as commercial or small business loans and lines of credit, a commercial credit card and asset-based lending. By understanding your financing options, you can make informed decisions about how to fund your operations in a cost-effective manner, even during challenging times. 

Digital Services

With the rise of mobile banking and online platforms, customers are looking for more convenient ways to access their accounts and manage their finances. APIs (application programming interfaces) are increasingly important for digital banking services. At First Independent Bank, our digital experts use API integrations to create and embed custom solutions tailored to your needs and preferences, making it easier to access your accounts and manage them in a more streamlined way. This may also allow you to speed up account processing and better safeguard your accounts.

Industry Expertise

We believe the best banker is one who knows your industry, customers, products and services, business cycles and needs. A bank with this kind of deep knowledge — steeped in real-life experience in your field — can accurately assess your credit needs and your company’s strength.

Community Relationships

First Independent Bank actively supports local businesses, participates in community events and provides financial education programs. We believe this gives us unique insight into the communities we serve, and the businesses that operate in them.  This deeper understanding of a region enables us — and our clients — to weigh the potential value of each financing opportunity and how it fits into the community. 

Exceeding Your Expectations

Today, customers want efficient, tailored financial services and comprehensive and personalized offerings. You may wish to seek out customized solutions, streamlined processes and proactive support as part of a banking relationship. For example, First Independent Bank customers work with one consistent point of contact and have access to senior management, along with a responsive team approach — no falling into an 800-number rabbit hole.

By embracing innovation while maintaining a customer-centric approach, we navigate the evolving financial landscape and provide exceptional banking experiences for our customers. Learn more about how First Independent Bank can serve your company.