Is an SBA Loan Right for Your Small Business?

April 16, 2021 by Rob Hughes

First Federal Bank is committed to supporting our small business customers during these challenging times. We know now is the right time to secure long-term financing for a stable financial future for your business. Here at First Federal we want to help through using Government Guaranteed Loans, with long term financing options and low fixed...

Topics: Small Business Lending, Small Business

Myths About Small-Business Debt

February 24, 2021 by First Federal Bank

To increase the success of your business, you need to make more money — and sometimes you need to borrow money to increase cash flow and unlock better opportunities for revenue growth. However, taking out a small business loan may seem like a bigger risk than it’s worth.

Topics: Small Business Lending, Small Business, Entrepreneurship

Top Small-Business Loan Tips

February 19, 2021 by First Federal Bank

Whether you’re starting up, expanding, or need a quick injection of cash, a small-business loan can be a lifesaver and a dream-maker. Given the gravity of what a loan can do for your business, it should come as no surprise the process of securing one takes a careful, intelligent approach. If you know what lenders are looking for and how to...

Topics: Small Business Lending, Small Business, Entrepreneurship

What Is Collateral and Why Is It Important

November 23, 2020 by First Federal Bank

The fundamental difference between a secured and unsecured loan is the collateral requirement. But what is collateral? Why is it important? And what is a lien? Here’s everything you need to know:

Topics: Small Business Lending, Mortgage Lending, Personal Lending

SBA Works: Serving Small Businesses, One PPP Loan at a Time

April 28, 2020 by First Federal Bank

Honored. Dedicated. Proud.

Topics: Small Business Lending, SBA Lending, COVID-19

Serving Our Small Businesses, One PPP Loan at a Time

April 22, 2020 by First Federal Bank

Honored. Dedicated. Proud.

Topics: Small Business Lending, Small Business, SBA Lending, COVID-19

How to Fund Business Growth

March 25, 2020 by First Federal Bank

Whether your startup is already ready to expand, or will sometime in the future, it’s best to be prepared. Read this to learn the best options for funding business growth.

Topics: Small Business Lending, Small Business

Funding Your Small Business with Bad Credit

March 23, 2020 by First Federal Bank

A low credit score is a detriment to any individual or business seeking loans, but it doesn’t entirely eliminate your financing options. FICO defines bad credit as a score between 300 and 629. If you fall within that margin, you can still fund your business in a way that gets your score back on track and opens more doors in the future.

Topics: Small Business Lending, Small Business

New information on Keeping Workers Paid and Employed Act

March 20, 2020 by Rob Hughes

We finally have our first glimpse of Congress’s Keeping Workers Paid and Employed Act. What an unusual time to be in SBA lending! I hope that this will pass and become law in the next two to three weeks. Here are the highlights:

Topics: Small Business Lending, SBA Lending, COVID-19

Properly documenting SBA 7a loan deferments

March 18, 2020 by Rob Hughes

I know many of you have had SBA 7a customers calling and asking for loan deferments. Below is a guide of how to document your loan file.

Topics: Small Business Lending, SBA Lending, COVID-19

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