Blog

2022 is turning out to be a strange year. Even though it is poised to be the first post-pandemic year with loosened mask mandates, and the return to the office in full swing, many questions can still puzzle potential entrepreneurs. The biggest question, which always resides within the back of the mind, is whether 2022 is the perfect time to launch a small business. What About Yesterday? There is an old saying: “the best time to plant a tree was twenty years ago, the second-best time is...

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Business owners are undoubtedly aware of increased prices. You don’t have to be paying attention to your supply chain to notice them when you can easily find them at the grocery store and the pump. But small businesses must navigate price increasing to continue turning a profit, so how can they do it? Luckily, there are a few aspects of your business that you can evaluate in the face of price increases. Evaluating Labor’s Effect on Raised Prices There is an immense rise in labor...

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Business succession is the process of implementing several estate plan and business strategies that will assist in the successful transition of a business. Transitions take place for different reasons. It may be when the business owner is ready to take on a different role within the business, at the business owner’s retirement, or at the owner’s passing away. No matter the reason, a well thought out succession plan will help ensure the transition to the next generation of the business...

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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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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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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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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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