Move funds automatically to improve ability to predict cash flow, avoid overdrafts, pay down debt, and take advantage of investment opportunities.
At Citizens National Bank, we understand that coping with the daily fluctuations in your business's cash flow requires a lot of time-consuming decisions on your part. Let our fully automated Business Sweeps cash management solution make the process much easier for you and help put your cash to work for your business.
How does it work?
At the end of each business day, a business sweep calculates the net available balance position in your commercial checking account and then compares the result to a predetermined target balance.
- If your net cash position is greater than your target balance, a business sweep automatically uses the excess funds to pay down your line of credit or transfers excess funds into an investment vehicle that you select.
- If your net cash position is less than your target balance, a business sweep automatically transfers funds from your chosen investment vehicle to cover the shortage or borrows the necessary funds against your line of credit.
Loan and investment sweeps utilize the most up-to-date technology to help your business operate efficiently. This process is very simple for your CNB Relationship Banker to set up for you.