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Growing Your Small Business

Take your business to the next level with these growth tips.

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Overcoming Small Business Financial Hardships Learn more about how you can help make your business better equipped to handle challenges. 7 min Start
Obtaining Financing and Funding for Your Small Business Learn how to find the right financing and funding sources for your small business. 7 min Start
Managing a Growing Team Learn more about how you can onboard the right talent and retain your best employees. 7 min Start
Customer Acquisition and Retention Learn more about how you can acquire and retain new customers for your small business. 7 min Start
Opportunities for Women- and Minority-Owned Small Businesses Learn about the various opportunities available to launch, sustain, and expand your small business. 7 min Start

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Illustration of small business and financial charts. Small Business Essentials Learn the basics of managing a small business. 6 Topics Start Learning
Illustration of piggybank and charts. Smart Savings Create a plan for reaching your financial goals. 4 Topics Start Learning

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Business Spotlight: Little Black Dressing Video Business Spotlight: Little Black Dressing Co. Kissie Stroup started High Point-based Little Black Dressing Co. simply to “provide something for [her] family” but it has become so much more. The dressing is now carried in supermarkets across the region and was even the official dressing of the 2014 U.S. Open in Pinehurst. Video Transcript Kissie Stroup: I think my grandmother passed onto us taking care of the household. Families don’t do that anymore. You know, they’re off to baseball and then they’re off to football and they’re off to tennis or they’re at dance and the home life now seems to have lost its family orientation. And that’s what I think she did. She, and my mom, provided that for us. And that’s what I wanted for my kids. It’s a lost art. Stroup: I am Kissie Stroup and I started a food business called Little Black Dressing. We produce four flavors of refrigerated, all-natural salad dressing. I just wanted to provide something for our family. You know, my husband’s worked hard, the fabric furniture industry was not good during there in the crash seven years ago, and I thought to myself, “What can I do?” Stroup: I don’t have anything that anybody else really has, and I think that’s the key. You’ve got to give them something different. Food seems to be the thing that you come back to. You entertain, you eat around the table…it seems to be when we’re the happiest and when everybody gets along. So, we gathered around food. Stroup: I’ve had a lot say it’s the best dressing they’ve ever eaten and it’s because its fresh and its different. It’s unique. I’ve got four different flavors and I don’t do anything like the other flavors that you see in the refrigerated salad dressing section. Stroup: Why would I want to compete with those large companies? I don’t. I don’t want to. I want to do something different. I’m going to give you what I grew up eating and they’re unique, they’re different. Success: Is it making a lot of money? Because I’ve yet to do that. Is it that’s it’s in every grocery store in the nation? I don’t know. I don’t know what the success of it is. I feel successful that I 3 min read
ACH Positive Pay If you are a business owner, you should spend your time worrying about growing a successful business, not worrying about fraudulent transactions. That’s where ACH Positive Pay comes in. What is ACH Positive Pay? We’re glad you asked. What is ACH Positive Pay? ACH Positive Pay helps guard your business against unauthorized electronic activity. ACH stands for Automated Clearing House, which is a network that processes electronic payments. There are multiple benefits to using ACH Positive pay, such as: Payments are credited to your account so you won’t need to take checks to the bank ACH processing typically comes with fewer errors than collecting and depositing paper checks You can automate attempts to collect bad checks, so you won’t have to deal with the same check twice ACH Positive Pay at First Bank First Bank provides ACH Positive Pay that allows business to collect payments from their customers, make payments to their vendors, and deposit payroll funds into their employees’ bank accounts. We can provide full ACH Positive Pay, which means any transaction that does not meet your requirements would require your approval. Or we will send you an email each time an ACH transaction posts to your account. ACH Positive Pay is very user-friendly. Instead of having to go online to approve a payment or transaction, the system will call your phone and all you have to do is enter an authorization code to approve the payment. You’ll no longer have to go to the post office to mail checks, which will save you time and money. If your company has experienced check fraud loss and wants to reduce exposure to fraudulent transactions, First Bank’s ACH Positive Pay could be a smart investment for your company. Visit Your Local First Bank Today To learn more about ACH Positive Pay or see a demo of how it works, visit a First Bank branch near you. ——— Sources: NACHA: https://www.nacha.org/news/what-ach-quick-facts-about-automated-clearing-house-ach-network 2 min read
Business woman looking over notes while on the phone. 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
Small Business Loans for Women in South Carolina First Bank in South Carolina is dedicated to helping women entrepreneurs get their businesses up and running. That is why we offer a variety of small business loans with competitive rates. According to the National Association of Women Business Owners (NAWBO), more than 11.6 million firms are owned by women, generating $1.7 trillion in sales nationwide. However, some business owners needed financial backing for their ideas. In South Carolina, small business loans for women can be found at any of First Bank’s six branch locations.* Better Small Business Loans First Banks offers all types of loan services for women in South Carolina. Business loans — A First Bank business loan provides a lump sum of cash for all of your startup costs. Credit line — Our credit line gives you a revolving door of lending so you can borrow when you need it and pay it back when you can. Credit card — Our First Bank Mastercard Business Card with Rewards allows you to make those everyday purchases your small business needs. Commercial mortgages — First Bank offers a variety of commercial lending products with competitive pricing. Construction loans — Use a First Bank construction loan to remodel, expand or take on other construction products. Visit Your Local First Bank Once you have the money you need to launch your small business, take advantage of First Bank’s merchant services such as mobile payment processing, check collection, payroll solutions and more. Visit a First Bank in South Carolina to learn more about a small business loan today. Loans subject to credit approval. Sources:   2 min read
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