Blog
Your SBA loan has been approved – what’s next?
Your SBA loan has been approved! Next step: closing. You may be asking yourself what is needed from you as the small business owner in the closing process? Our goal is to make the closing process as smooth as possible, which is why we have a Closing Specialist who will be able to provide the answer to that question. Although there’s still work required to get you to the finish line, our Team will be here to guide you through every step.
The History of Prime Rate and How It Impacts Small Business Owners
Whenever the United States is faced with inflation or a recession, it is the Federal Reserve’s job to adjust the federal fund rate to combat that. The Federal Reserve generally lowers rates in order to stimulate growth, while increasing rates to slow inflation with the hope of returning to a more sustainable level.
How FNB Small Business Finance Can Help You Achieve Your New Year Goals
As a small business owner, you might be thinking what’s next for you or your business in the new year. Do you want to buy a business? Do you want to buy commercial real estate for your current business?
What Is Interest Rate Volatility and Why It Matters?
For business owners who are seeking financing, interest rates play a significant role in finding the best loan option since they can impact borrowing costs greatly. When the Federal Reserve raises rates, the monthly payments for things like small business loans can become proportionately more expensive. For a small business owner who has to account for their business finances over the next several years, a seemingly small change can have major impacts.
What does the SBA loan process look like with FNB Small Business Finance?
When you partner with our team at FNB Small Business Finance, we want the process to be as transparent as possible to ensure everything goes smoothly. Our team has decades of experience and is dedicated to helping small business owners achieve success. Here is what you can expect the SBA process to look like with our team.
Celebrating Small Businesses Everyday
Large companies and corporations may steal the spotlight from time to time, but there is no question that small businesses are what drive the American economy. As of 2020, there were over 32 million small businesses in the United States, accounting for over 99% of total business in the country!
You’re Ready to Buy Commercial Real Estate, Now What?
Buying commercial real estate is an exciting time for a business owner, but it can be an intimidating process. Acquiring tangible assets, whether an existing property, new construction, or a redevelopment project, requires a lot of financing.
You're ready to expand your business, now what?
When it’s time to grow your business, cash flow is vital. Whether you need to open an additional location, build or expand a building, or tap a new market, an SBA loan can help you meet the demands of business growth.
What to Expect in the SBA Lending Process?
Obtaining financing for your business is an exciting time, but it can also feel intimidating if you don’t know what to expect. Whether you’re launching a start-up, acquiring an existing business, acquiring or constructing a building to operate from, or opening a franchise, there are some common steps to the SBA lending process that you should know.
What Are the Benefits of an SBA Loan?
An SBA loan is a great financing option for business owners who are expanding, acquiring, or in need of working capital. Backed by the Small Business Administration, SBA loans offer a unique opportunity to business owners even if they qualify for traditional small business loans.
The Difference Between an SBA Loan and a Conventional Loan
Every entrepreneur or small business owner will eventually need additional funds to launch or grow their business. When that time comes, it’s important to remember that not all loans are created equal. Depending on your use of loan proceeds, credit history, business type, and loan amount, certain options may suit your financial needs more than others.
What Should a Good Business Plan Include?
As a small business owner, you likely have big goals for your business. A good business plan can help you achieve those goals. By detailing plans, budgets, and goals, a business plan can act as your road map to success.
Are You Ready To (Literally) Build Your Business from the Ground Up?
There comes a point in a small business’ journey when it is time to expand and grow. For some business owners, this means expanding their existing work space while others will tackle building a commercial property from the ground up. In either case, an SBA Construction Loan can help get you started.
What information do you need when applying for an SBA loan?
An SBA loan has many appealing benefits for small business owners like longer terms and lower down payments. Gathering the appropriate documentation in advance can help streamline the process as much as possible. Here are a few common documents you will need to submit in addition to the required federal forms.
You’re ready to acquire a business, now what?
Acquiring a business is an exciting endeavor! Buying a company can give you access to new technology, new markets, and new resources. Whether you’re buying a completely separate business or planning to absorb it into your current company, you can set yourself up for success by planning for the acquisition process in advance.
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Investment and insurance products are not insured by the FDIC or any other federal government agency, are not deposits or financial obligations of the financial institution, are not guaranteed by the financial institution and they do involve investment risk, including possible loss of principal.
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