Chesapeake Bank, a Kilmarnock-based community bank with locations throughout Virginia including branches in Gloucester, Mathews and Hayes, has announced the rebranding of Flexent, a flexible service that allows entrepreneurs and small business owners to borrow against the strength of their invoices or inventory.
Flexent, formerly known as CashFlow, is a national service providing business owners with a safe, federally regulated low-cost option for financing. The service is ideal for small businesses that may not qualify for a traditional loan but can benefit from financing that is fully backed by a community bank, a Chesapeake Bank release stated.
“The two primary products within our Flexent division are accounts receivable financing and asset-based lending, both of which offer significant benefits to small business customers,” said Kevin Wood, senior vice president and managing director of the Flexent program at Chesapeake Bank. “We can provide financing for needs up to several...
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