Banking Blog & Financial Tips

Welcome to our Banking Resources and Financial Tips Blog! Here, you'll find useful banking related articles and tips designed to empower you on your financial journey. Whether you're looking for budgeting advice, insights on savings, tips for growing your business or ways to enhance your financial well-being, our blog offers expert guidance to help you make informed decisions.

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8 Myths About Small Business Loans

May 23, 2024

While most are aware of the Small Business Administration (SBA) and the loans it provides to get small business owners the capital they need to start or expand their businesses, many misperceptions exist about SBA loans themselves – from eligibility requirements to applying, terms, uses and more. To help set the record straight and ensure business owners understand how an SBA loan can provide financing they wouldn’t otherwise qualify for, the SBA lending experts from BayFirst have pulled together (and debunked) the top eight myths about SBA loans.

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Small Business Resolutions for 2024

January 8, 2024

As we all look ahead to the promise of a new year, it’s likely that most business owners have begun setting new goals and looking for ways to ensure greater success in 2024. For those in search of new strategies, expert advice, or just thought starters for the New Year, the experts at BayFirst have compiled a list of Small Business Resolutions every business owner should consider making as January 1 approaches.

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Seller Financing: A Win-Win for Business Acquisitions

July 26, 2023

Following the Small Business Administration's (SBA) recent changes to its guidlines related to partial business acquisitions, those interested in acquiring a business or a partial ownership interest in a business will likely have some questions about seller financing, which should become more common now that these types of acquisitions can be made with the help of an SBA 7(a) loan and cash injection (down payment) requirements have been loosened.

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SBA Guidelines: Partial Business Purchases Allowed

July 18, 2023

The Small Business Administration (SBA) recently announced changes to its guidelines, which will completely change things for those interested in a partial business purchase.

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Tips for Every Stage of Small Business Ownership

May 15, 2023

Though BayFirst’s government-guaranteed lending division, CreditBench, is most known for being one of the country’s top SBA lenders, the assistance its expert team provides small business extends far beyond financing.

This Small Business Month, we’ve compiled some of our most popular and informative blogs to help small businesses at every stage reach their next goal, all year round.

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Low-Cost Small Business Marketing Ideas

May 3, 2023

Spring is known as a time to refresh, and one way every small business owner can do that without breaking the bank is to review their marketing plan and implement some new ideas. To help, the small business experts at BayFirst have compiled a list of 10 easy but impactful ways you can improve how you promote your business to stay top of mind for current customers and attract even more this spring and beyond.

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Plan Small Business Financing for 2023

February 15, 2023

The New Year inevitably brings with it predictions for the year ahead, including many about the future of small businesses in the US. Though, unsurprisingly, inflation, staffing and supply chain pressures are expected to persist, according to the experts, small business owners could also face additional obstacles related to securing financing in the year ahead.

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Business Acquisition Loans Guide

October 25, 2022

As Baby Boomers approach retirement and after two years of increased burnout resulting from the Pandemic, experts are expecting to see significantly more business owners opting to sell. For those looking to become an entrepreneur while avoiding much of the risk associated with starting a completely new business, there could be no better time than the present.

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Is a Second SBA Loan Right for You?

September 7, 2022

Small Business Administration (SBA) loans are typically the best financing options for small business owners looking to start or grow their business. They are backed by the SBA and come with various loan amounts, low interest rates, flexible spending options, and extended repayment periods. And while many owners have turned to financial institutions such as BayFirst for a small business loan since the SBA was established in the 1950’s, not all are aware that they can have multiple should their business require it – but there are some qualifications.

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Prepare Your Small Business for Summer

May 19, 2022

Summer is fast approaching bringing with it both challenges and opportunities for small businesses of all kinds. Whether your business heats up during this season or experiences a slowdown, now is the time to prepare so you can play it cool in the months ahead.

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