Blog

Small businesses thrive on working capital, and managing working capital successfully is vital to a business owner. When your business has low capital, it can cause problems like a lack of cash flow, obligations to suppliers and employees, and project-related expenses. Dealing With a Change in Working Capital Always having adequate working capital on hand is a difficult task. What can you do when your working capital is already low? We'll give you four tips from the experts at Falcon...

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There comes a time for every business where you will consider a loan. You may need the additional funds for an expansion, equipment, inventory, or even hiring new talent. If you see a small business loan in the future, you may wonder about your credit score's importance. Just how important is your credit profile when applying for a loan? Follow our guide and learn more about how your credit profile plays a role. What Credit Score is Needed for Small Business Loans? There is no magic...

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December is a busy time for small business owners. On top of day-to-day management duties, there are many preparations to make for the upcoming year. This list might include financial statements, tax forms and information, and end-of-year employee bonuses. End of Year Tasks for Small Business Owners It can be challenging for a small business owner or entrepreneur to manage time and maintain a healthy work/life balance. However, devoting attention to your business will help you end the year...

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If you own a small business, you’ve likely noticed that supply chain shortages in the US have affected your sales. Since the Coronavirus pandemic, supply issues have been critical for organizations to manage, especially for smaller institutions across the country. We’ve seen this very clearly in the Midwest, with a supply shortage affecting everything from commodities to labor. Most business owners ask what they can do to mitigate the issue, but some are hopeful that the problem will...

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A growing trend in raising funds for a business is something called crowdfunding. You may have heard about this idea before: asking friends, family, and even strangers to invest in a business idea or help raise funds for improvements, expansions, or other business expenses. On paper, it seems easy. A business can start by signing up with a crowdfunding platform, list some information about the business, and simply watch the money roll in! Of course, there is much more to it than that. Even though...

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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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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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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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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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