Business Location Evaluation [INFOGRAPHIC]

The location of your business can be one of its most powerful assets, or not. Let’s evaluate various positive and negative factors. Find the business in this infographic and see how good its location is.

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A Complete Guide to Business Loans Owning a business comes with tremendous opportunity, but it also takes significant amounts of discipline, time, effort, and of course, money. Whether you are running a major corporation or starting a small business from the ground up, capital is vital for your growth and success. For this reason, many organizations seek business loans to obtain the financing they need. Loans in general are very common. Most people are familiar with personal loans, such as student loans, car loans, and mortgages. Business loans are actually quite similar, but they can certainly seem overwhelming at first glance. And while they are an effective tool to kickstart your business, there’s a bit more to them than that. But not to worry, we have you covered! Before applying for a business loan, it is critical to understand what they are, the standard terms and language used in business loans, what you’ll need to apply and qualify for a business loan, and the different types of business loans and their advantages. Some of this guide may seem straightforward, but at First Bank, we take pride in keeping you informed and in‑the‑know. Additionally, business loans can be hard to get, and the requirements can be strict. But that’s exactly what we’re here for — we want to help your business grow. Follow our step‑by‑step guide to prepare your business loan application and improve your odds of being approved. What This Guide Covers: What is a business loan? What are key terms to know regarding business loans? What factors do most lenders consider for business loan approval? What documents might you need to apply for a business loan? How can you improve your odds of being approved for a business loan? How does a typical business loan process work? What are the advantages of business loans? What are the different types of business loans? What Is a Business Loan? Business loans are used to finance a variety of business operations and expenses by borrowing money from a lender under specific terms and conditions. When a company needs financing or capital, it can turn to a bank or other financial institution for a business loan. Whether you’re starting, acquiring, or expanding a business, you won’t want to drain 28 min read

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Common Cash Management Questions First Bank’s customized cash management services provide start-to-finish techniques that can help your business enhance cash flow, improve accounts payable and find new ways to efficiently automate payments and profits. 3 min read

What is the SBA? If you have a business plan but are having trouble acquiring a bank loan, consider reaching out to the Small Business Association (SBA). The SBA is a government-affiliated organization that provides small businesses with a variety of finance programs. The SBA can help facilitate a loan for you with a third-party lender. What is the SBA? Many people opening a new business may not yet be familiar with the SBA. It’s an agency backed by the federal government that helps entrepreneurs and small business owners access starting capital, and under some conditions approval is guaranteed. In order to help people start or expand their businesses, the SBA partners with a network of lenders to help provide loans, contracts, and other forms of financial assistance. SBA Loan Basics If you’re a small business owner having trouble qualifying for a traditional loan, the SBA offers various different loan programs, each designed for a specific purpose. If you’re starting or expanding your business, consider the following loan programs: Basic 7(a) Program Certified Development Company (CDC) 504 Microloan If your business has suffered an economic loss or physical disaster, consider a: Disaster Loan Veteran and Military Community Loan In addition to those programs, there are also: Export Assistance Loans Special Purpose Loans How First Bank SBA Can Help A lot of business owners just starting out use the First Bank SBA option so they can stop worrying about money and focus on work. Here are the ways our SBA loans help you get off the ground: Acquisition There’s often less risk involved when acquiring a business than if you’re starting from scratch. First Bank gets you the financing you need while providing guidance worthy of an acquisition partner. Refinance Debt For business owners who are refinancing, First Bank will properly evaluate your loan and give you the best plan moving forward. Succession Whether you’re taking over the family business or buying into a new opportunity, First Bank provides business owners with clear guidance and thoughtful planning. Need help figuring out which loan program best fits your financing needs? Talk to the experts at First Bank to discuss loan types and SBA lenders in your area and to get the application process started right away. ———- Sources: Small Business Association: sba.gov/loans-grants/see-what-sba-offers/what-sba-offers-help-small-businesses-grow SBA.gov 7(a) program: sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/general-small-business-loans-7a/7a-loan-program-eligibility SBA.gov: sba.gov/loans-grants/see-what-sba-offers/sba-loan-programs/loan-programs Loans Subject 3 min read

How to Evaluate a Location for Business Potential There are some key factors you should take into consideration when evaluating potential locations for your small business. 3 min read

Business Location Evaluation [INFOGRAPHIC]

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