Archive - November 2021
-
Unleash the equity in your house with a HELOC
Posted On: November 23, 2021 by Falcon National Bank in: Your Financial Life | Personal Banking
Do you have home-improvement projects you are wanting to tackle but don’t have the excess cash readily available to do so? A Home Equity Line of Credit (HELOC) may be the perfect solution for you. A HELOC is a revolving loan that is secured by your house. It allows you to leverage the equity that you have in your house to gain access to funds to use for home-improvement projects, such as home renovations, debt consolidation, emergency expenses etc... HELOCs are a variable rate loan. You...
Read More -
What is the difference between 504 and 7(a) SBA Loans?
Posted On: November 8, 2021 by Falcon National Bank in: Manage your Business | Business Banking
When businesses are looking to take out an SBA loan for their small business, they have many options. Two of the most popular options are called 504 loans and 7a loans. It can be difficult to know which is right for your business–let’s take a look at the benefits, drawbacks, and features of each one. The Basics of a 7a SBA Loan Typically, the 7a loan provides greater flexibility than the 504. 7a loans offer a maximum payout of $5 million and technically have no minimum amount (though...
Read More