Tag: borrowing
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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...
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Bank Loans versus Investors: Weighing the Options of Start-up Capital
Posted On: March 22, 2021 by Falcon National Bank in: Manage your Business | Business Banking
When you are younger and need some spare money to fix your car or pay an unexpected bill, you might borrow money from your family or get a part-time job. When a new business needs start-up capital to get on their feet, the options are much more deliberate and thoughtful. There are two main options when earning capital to start a business: taking out a business loan from a financial institution or partnering with an investor. Of course, there are benefits and drawbacks to each option. Borrowing...
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