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SBA loans are one of the most powerful tools for businesses looking to grow, yet misconceptions can sometimes deter business owners from exploring this financing option. As experts in this field, we’re here today to share the facts about SBA lending.

Let’s clear up some of the most common myths about SBA loans and set the record straight.

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The Federal Reserve’s recent rate cut offers much-needed relief to business owners facing historically high borrowing costs. These interest rates directly impact borrowing costs for small business loans, commercial real estate loans, and other financing options. For small business owners, even a slight rate adjustment can have significant financial implications over the long term. Lower rates, like the ones just implemented by the Federal Reserve, can reduce the monthly payments on loans. This gives small business owners the ability to secure more affordable financing for expansions, equipment purchases, or working capital.

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As the end of the year approaches, now is the perfect time for small business owners to start planning. Whether you’re considering buying real estate, acquiring a new business, opening a new location, or starting a franchise, early planning can set you up for success as you tackle these goals in the new year. Here are some tips to help you prepare and turn your vision into reality.

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Acquiring a business can take many forms, including partial acquisitions, which are now eligible for SBA financing. A partial business acquisition usually involves purchasing a majority stake in an existing business rather than the entire company. It allows buyers to leverage existing infrastructure, licensure, clientele, and market and requires only a 5% equity injection – half the SBA requirement for a full buyout. This is proving to be a great solution for sellers who want to transfer ownership to their current non-owner employees.

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Senior care businesses play a crucial role in supporting communities across the country. To maintain this standard of care, it’s important to consider your business growth strategy and long-term financing needs. At FNB Small Business Finance, we support senior care businesses through flexible SBA lending solutions that ensure success.

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If you are pursuing an SBA 7(a) or 504 loan for a major project, like acquiring a business or purchasing commercial real estate, you might also need additional financing to support day-to-day business operations. That’s where an SBA Express Loan comes in! This loan product is specifically designed to help small business owners with current business needs while also enabling them to plan for future expansion and growth.

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When it comes to funding major investments like buying a home or a car, long-term financing is crucial. But what about financing for your business? If you've dealt with personal loans before, you might assume you know what documents you need and what the requirements are. However, business loans, especially SBA loans, have unique considerations and requirements that distinguish them from traditional consumer loans.

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As a professional, you've dedicated countless hours to refining your expertise and establishing a practice. A successful professional practice, however, requires careful planning for future growth and success. No matter what goals you have for your practice, it's important to evaluate your long-term financing options to help you achieve them.

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There are almost 600,000 small manufacturers in the U.S. according to the SBA, and if you're one of them, you've likely thought about goals for your business's future growth. If you need financing to achieve these goals, an SBA loan can be a great option. With an SBA loan through FNB Small Business Finance, you can have quicker access to the capital you need to take your business to the next level.

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There are many factors to consider when evaluating potential lending partners for your SBA loan. One of the most important factors is one you might not have thought of – Does the lender have Preferred Lender Status with the SBA?

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On November 15, 2023, the revised Small Business Administration (SBA) Standard Operating Process (SOP) 50 10 7.1 took effect. There were a number of changes that could be very impactful to small business owners and their access to capital.

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At FNB Small Business Finance, we know that every small business owner has unique needs when it comes to long-term financing for their business. Whether you’re looking to start, acquire, or expand your business, our team is here to help! With decades of expertise, we can be creative with how we structure your SBA loan. This can include:

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Buying out a business partner is a huge step for many small business owners. Whether you’re interested in a partial partner buyout or obtaining 100% ownership of the business, it’s a step that might require long-term financing. While there are many options available to small business owners, an SBA partner buyout loan could be a great fit for you.

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Are you in search of financing to fund your business goals? There are many SBA lenders in the market, but it’s important to partner with a lender that matches your passion for growth, understands your industry, and ultimately makes you feel comfortable.

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At FNB Small Business Finance, our Business Development Officers work closely with every borrower, guiding them through the SBA loan process to make sure everything runs smoothly. First course of action – Assembling your SBA Project Team! This is pivotal to setting yourself up for success.

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