Q: Business is great, but my inventory and Accounts Receivable have grown significantly, what can you do to help?
Increased sales are great, but when business is good you may need to carry more inventory to meet your customer's needs and after the sale is complete you may need to carry the amount due as a receivable until your customer sends the check. While increasing inventory and Accounts Receivable can be a positive sign your business is growing, they can really squeeze your cash flow. That's where a revolving line of credit with American Bank can help. With a line of credit you can make an advance to get cash in your checking account and pay your bills when you need to and repay the advance when your customers pay you. It's a great tool to smooth out the cash flow needs of any business. Give Isaac or me a call and let's talk!
— Jed Keller, Vice President, NMLS #509451 and Isaac Mueller, Assistant Vice President, NMLS #509446 specializing in commercial lending
"Buying a home is a big decision and with our help, you can be preapproved to buy the home you can afford. At no cost to you, we can sit down and work through a preapproval and provide you with a letter to present to your realtor indicating what works within your budget. Let us help you take the first step to being a homeowner. Give me a call today!"
— Rita Keys, Vice President, Loans, NMLS #507538
Q: Is it a good idea for a college student or a young adult out of high school to apply for a credit card?
When used responsibly, a credit card can help a young adult build good credit which may possibly lead to interest savings on future auto loans or mortgages.
Be careful to look for a credit card with no annual fee and pay at least the minimum balance due, on time each month or pay the full amount due, if possible.
— Peggy Zickert, Banking Officer, Customer Service Department