Blog

After a year like 2020, unexpected business expenses have taken on a whole new meaning. Especially when operating a small business or a startup, unexpected expenses seem to be a cost of doing business. The best course of action against these surprise costs is to be prepared and plan ahead. Four Unexpected Costs to Businesses Small businesses must account for many costs, especially as they are just starting out. These can include anything from permits and equipment maintenance to payment delay...

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Have you ever heard or repeated the phrase, “You have to spend money to make money”? If so, you might be the owner of a small business. Access to a business line of credit allows small businesses to execute daily functions, cover daily expenses, purchase inventory, hire staff, and much more. Business owners know that keeping a company’s ship afloat means understanding cash flow and profits–it’s not all about how much you have in the bank at one time. Fortunately,...

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As the economy begins to recover from the pandemic, mortgage rates are beginning to climb from record lows. The beginning of March saw mortgage rates rise above 3% for the first time in seven months. Even so, lower-than-average mortgage options are driving people to want to buy at a quicker pace or make a commercial investment for the first time. It’s not just home loans that offer investment opportunities. Commercial real estate is a hot topic right now as well. If you are considering...

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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’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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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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An organization’s culture can be defined as a collection of expectations and norms that determine how a group behaves. A healthy, well-adjusted culture can be difficult to foster even without a global pandemic going on. When you add in the current realities of the workplace (and the world) today, it makes a healthy culture even more important. If you boil it down, businesses are just trying to maintain productivity and profitability. To do this, you need to retain both great customers and great...

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