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An SBA loan is a small business loan partially guaranteed by the Small Business Administration.  SBA loans eliminate some of the risks for the financial institution that issues the loan. SBA loans work within a network of approved lenders that lend money to small businesses. While we may know the benefits of an SBA loan, one of the scariest questions to answer as a small business is what to do if you are denied. Determine Why Your Loan Wasn’t Approved According to the American...

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At Falcon National Bank, we are well-known for our commitment to small businesses. It’s a distinction we take a lot of pride in–supporting the businesses in our community isn’t just good for our business, it’s a passion we hold dear. Too often, businesses aren’t treated like valued customers by their bank. Big banks see business relationships as transactions, gathering bundles of paperwork and sending them off to faceless departments. Our business banking team provides...

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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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Organizing cash flow, setting up bill payments, and accurately calculating cash on hand are critical functions for any business. A recent study reports that 27% of small businesses use the same bank account for business and personal finances (check out the infographic here). For business owners and self-employed workers, it might be beneficial to not only separate these accounts but to have more than one business checking account. The Benefits of Business Checking Accounts Credibility A...

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There are plenty of clichés around the idea of the American dream. Starting with an idea and building it into a successful business is a skill few possess. Even if you have the ambition, energy, and fresh business plan to get a new business up and running, there are plenty of issues that can trip up new entrepreneurs. If you can anticipate these challenges, you can make a plan to overcome. Finding and Hiring Your Dream Team Even if you have run a team before, finding the right team to...

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There’s an old cliché about diagnosing your own medical conditions. Once you get on Google and start looking up your symptoms, you can convince yourself into having an array of problems with countless “at-home” solutions. For the same reasons that Googling medical advice is a bad idea, not seeking financial advice from an expert isn’t the best idea for your finances. You May Not Be Aware of All Your Options The worst part about self-diagnosing your finances is...

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Are you a business owner trying to decide whether you should buy or lease the equipment you need to run your business? In some cases, it is a better investment to outright purchase equipment for your business, especially if you are buying equipment that will not depreciate in value or that you will not need to replace. In other cases, leasing makes much more financial sense.  Leasing equipment can be beneficial to your business for several reasons. From cash flow improvements to helping your...

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Small business owners often report that cash flow and reoccurring business costs are their top two financial challenges. Guidant Financial reports that in a 2019 Small Business Trends report, 33 percent of small business owners cited a lack of cash flow as their greatest business challenge. When it comes to banking, there are plenty of obstacles for small businesses. As a rule, most banking issues are harder to overcome for small businesses than larger ones. Here are some of the most common issues...

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ACH (or Automated Clearing House) transfers are a secure way to electronically transfer money between accounts in different banks. Last year, more than 24 billion ACH transactions were processed in the United States. In fact, you likely made an ACH transfer without even realizing it. For example, if you pay bills online or your paychecks are directly deposited into your bank account, those are examples of an ACH transfer.  For business owners, ACH transfers aren’t just beneficial, they...

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We take pride in the services that we offer our customers, especially our small business customers. Did you know that we can help businesses complete many of their basic and important functions online? Our online services are much more extensive than just checking on account balances and transferring funds! Hi-Tech Banking, Hi-Touch Service Our online banking suite offers solutions to help your business access finances, manage your accounts, and conduct your business from anywhere at any time!...

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