First Federal Bank Blog

As a small business owner, it is crucial to stay vigilant against tax scams that can potentially harm your financial well-being. Fraudsters are continuously evolving their tactics, making it critical to educate yourself on common tax scams. By being aware and taking proactive measures, you can safeguard your business and personal information. In...

The concept of business succession is having a unique moment of public interest thanks to the popular television series. But if you run a business, the need for a succession plan is very real and important. Taking steps today to put a succession plan into place won’t just prevent drama — it’ll ensure your business is continually run by people who...

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.

Is it time to bring a partner aboard to help with your business? Shifting to a partnership will have major implications for your company, so it’s crucial to assess your business needs and know what you’re looking for in a partner before making any sort of commitment. Here are some pointers to help you think through this important decision… What is...

Managing the way money flows into and out of your business is critical to set yourself up for long-term success. If your books aren’t balanced and in check, it can create financial and legal problems that may derail your momentum and undermine your ambitions. Being aware of some of the most common accounting mistakes small businesses make can make...

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...

When your employees are experiencing burnout on the job, it’s not just a problem for them — it has the potential to negatively affect your entire business. To promote your business’s success and protect the well-being of your workers, it’s vital to recognize the key signs of burnout and know how to address them. Even more importantly, your company...

As implied by their names, the main difference between short-term and long-term loans is how long your business has to repay them. Depending on the lender, short-term loans may last from a few months to a year, while long-term loans can last for a much longer period. When determining what type of loan is better for your business, you need to...

Every entrepreneur wants their business to flourish — and to achieve that goal, it’s important to be aware of the signs your company is struggling. Here’s a look at four factors that indicate your company has to address some issues before it can thrive:

Managing your company’s debt can quickly become complicated. One way to simplify the process is to consolidate your business debt. However, like many other parts of entrepreneurship, this decision comes with a unique set of benefits and drawbacks. Here’s a look at some of the potential pros and cons to consider before you consolidate your business...