Category: Manage your Business | Business Banking
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Community banks and credit unions: How banking locally supports your city or town
Posted On: February 6, 2024 by Kasasa in: Manage your Business | Business Banking, Your Financial Life | Personal Banking
As you drive around town running errands — picking up a few must-haves for dinner at the grocery store, shuttling the kids to soccer practice, or dropping off a prescription at the pharmacy — you likely drive past a community bank or credit union in your neighborhood. In fact, you might pass several without even noticing. Small banks and credit unions have been in your neighborhood for as long as you've lived in your home (and in many cases decades and decades longer), and you...
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Business vs personal checking: What small business owners should know
Posted On: December 21, 2023 by Kasasa in: Manage your Business | Business Banking
For small business owners, any given day can include the smallest details from preparing bid proposals to changing printer ink cartridges. Not enough hours ever seem to be spent doing the work you truly enjoy, like engaging with your favorite customers and building your business into a successful way to support you and your family. You likely discovered pretty early on that running a home and running a business are entirely different creatures. While you may be outstanding at wrangling both on any...
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Recent surge in mail theft related check fraud schemes in Minnesota and across the country.
Posted On: September 12, 2023 by Falcon National Bank in: Manage your Business | Business Banking, Your Financial Life | Personal Banking
It takes some diligence, but with the right knowledge, a reliable banking partner, and the use of effective tools, you can empower yourself to safeguard against potential threats like check fraud schemes. What does the fraud look like? Here is a typical example of what business customers are experiencing: A business customer drops a check payment in the mail payable to their vendor. At some point along the way, the check is stolen by criminals. (Criminals target USPS blue collection boxes,...
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Maximizing Your Business's Potential With Cash Management
Posted On: May 16, 2023 by Falcon National Bank in: Manage your Business | Business Banking
As a business owner, you're a master of the financial juggling act. With accounts payable, accounts receivable, cash flow forecasting, and payroll on your plate, it's a wonder you haven't joined the circus! Fear not, cash management is your financial safety net - it simplifies your financial operations to streamline your bottom line with a much-needed boost. What Is Cash Management? Cash management refers to the process of handling a company's cash flow to achieve the best possible...
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Holiday Hoaxing – How to Protect yourself from Debit Card Fraud this Holiday Season
Posted On: December 12, 2022 by Falcon National Bank in: Manage your Business | Business Banking, Your Financial Life | Personal Banking
‘Tis the season for fraud. We must be wary of the breaches, identity theft and fraud that tend to ramp up during the holiday season. Debit card fraud, especially, thrives during this time. Debit card fraud occurs when someone gains access to your account information to make unauthorized purchases. Black Friday and Cyber Monday deals have come and gone, but many people are still shopping online for that special holiday gift for a loved one. All that extra online shopping can increase the...
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What is a CD Ladder?
Posted On: October 26, 2022 by Falcon National Bank in: Invest your Money | Investment Banking, Manage your Business | Business Banking, Your Financial Life | Personal Banking
Savings rates are on the rise, it’s a great time to develop a savings growth strategy. We frequently discuss savings rates with our customers. Through most of the last decade savers were forced to settle for lower yields on deposits, stuck in a low-rate environment. Even those fortunate to lock in higher returns during the brief market up-ticks grew weary of the feast or famine situation. There is a simple diversification method to increase your savings returns over the...
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How to Budget with Increasing Product Costs
Posted On: August 17, 2022 by Falcon National Bank in: Manage your Business | Business Banking
Businesses everywhere are feeling the impact of increasing product costs. As the costs of necessities reach new heights, it’s more important than ever for small business owners to create a budget and stick to it. Focusing on cash flow has always been important for small businesses, but it’s now essential with consumer goods at unstable costs nationwide. Here are a few things you can do to ensure your budget can cover you in the case of an emergency. Budgeting For Small Businesses During...
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What is the Employee Retention Credit? | Does my business qualify?
Posted On: July 11, 2022 by Falcon National Bank in: Manage your Business | Business Banking
In the wake of COVID-19, the federal government is taking plenty of measures to help small businesses. One of these measures is the Employee Retention Credit (ERC). This article will cover the ERC, how it can help small businesses, and how you can seek help with applying for the program. What is the Employee Retention Credit ERC? As a part of the Infrastructure Investment and Jobs Act, the ERC is a refundable credit on qualified wages. This credit is paid to employees, but many business owners...
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How to Learn from Business Mistakes
Posted On: June 30, 2022 by Falcon National Bank in: Manage your Business | Business Banking
Running a business is a marathon. At every step, business owners make mistakes. But mistakes often don’t make a business fail; instead, it is a business’s response to mistakes that makes the difference. Successful business owners know how to identify their mistakes, focus on what they could have done differently, and can develop a plan to prevent similar errors in the future. Use an Audit to Learn from Business Mistakes Plenty of business owners might think ‘audit’ is...
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The Rise of the Microbusinesses and Solopreneurs
Posted On: June 16, 2022 by Falcon National Bank in: Manage your Business | Business Banking
There are dozens of business trends currently affecting the market. Among these trends is the rise of microbusinesses and solopreneurs. While not entirely new terms, you’ve undoubtedly heard them more than ever this year. With their newfound popularity, it’s important to understand each one and the lessons you can glean from them. What is a Microbusiness? There are small businesses, and then there are microbusinesses. A microbusiness usually has a very small number of employees,...
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