Should You Use Your Personal Savings to Cover Business Expenses?

January 26, 2024 by First Federal Bank

Whether you’re a newly minted solo entrepreneur or a long-time business owner who’s going through tough times, you might find your company needs a little extra money. Before you dip into your personal savings to make ends meet, consider the benefits and drawbacks:Pay less in interestIf your business is strapped for cash, your personal savings...

Topics: Business Banking, Small Business

Advice for Safely Sharing Business Credit Cards With Employees

January 12, 2024 by First Federal Bank

If you’ve got a growing enterprise, you may want to give your staff members the power to make purchases. Whether they’re wining and dining clients or buying paint brushes and flooring to fix up an investment property, a business credit card can give your employees a convenient way to make transactions on behalf of your company. However, there are...

Topics: Business Banking, Small Business

Protect Your Business from Financial Fraud with Positive Pay

July 28, 2023 by First Federal Bank

Advanced technology spurs financial fraud. As businesses find quicker ways to optimize the payment process through automation, active fraud prevention becomes necessary. Positive Pay is a tool to help protect your business.

Topics: Business Banking, Small Business

How a Business Line of Credit Can Help You

June 09, 2023 by First Federal Bank

Growing a business involves its share of uncertainty, and that may include finding yourself at a point where you don’t have the means to cover operating expenses and needs. A business line of credit is a viable option to help you find your way out of a tough spot, and offers some advantages that may make it the preferable alternative to a...

Topics: Business Banking, Small Business

What Do You Need to Open a Business Checking Account?

June 02, 2023 by First Federal Bank

Business accounts help you separate your business finances from personal finances, which is an important step for protecting your private funds and avoiding trouble with the IRS. In fact, manager Lorien Strydom says, “as soon as you decide to start spending or accepting money as a business, you should open a business bank account.”...

Topics: Business Banking

5 Benefits of Digital Communications for Bank Customers

April 07, 2023 by First Federal Bank

Digital communications have revolutionized the banking industry, changing the ways customers interact with their financial institution and their money. Here are some of the key benefits of digital communications for banking customers:

Topics: Business Banking, Personal Banking, Financial Education

Tips for Building a Business Emergency Fund

February 17, 2023 by First Federal Bank

An emergency fund for your small business is a smart investment. By having some savings on hand, you can help your company weather economic downturns, a loss of patronage, and unexpected expenses. However, it can be a bit overwhelming to set savings goals, carve out money from your company budget, and plan for all the ups and downs your business...

Topics: Business Banking, Small Business

How Do Deposits Work and Why Aren't Funds Immediately Available?

September 28, 2022 by First Federal Bank

When you deposit money into your account via cash or check, it can take some time before those funds are available to you. If you’ve ever wondered why, the explanation is quite simple.

Topics: Business Banking, Personal Banking

First Federal Bank Serves More Customers with a Jacksonville Location

June 06, 2022 by First Federal Bank

First Federal Bank, a Florida-based bank, is celebrating the opening of new Interactive Teller Machines (ITM) at both 9700 Touchton Rd in Jacksonville, FL and in the Wildlight community, located at 40 Floco Ave in Yulee, FL. These new ITMs provide convenient, full-service drive-thru banking for consumers and businesses in Jacksonville beginning...

Topics: Business Banking, Personal Banking

Should You Get a Startup Business Loan for Your Entrepreneurial Venture?

May 16, 2022 by First Federal Bank

You’ve had a dream of going into business for yourself, and now you have a product or service you could turn possibility into reality. When you’re looking to get a business venture off the ground, you need startup capital. That’s where business loans can come in handy.

Topics: Business Banking, Small Business

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