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News and Updates
We regularly publish articles to help small businesses with information they need to succeed.
Is Refinancing Your Business Loan a Good Idea?
Understanding Your Current Terms Reviewing your existing terms is crucial before you decide to refinance your business loan. This includes your interest rates, repayment schedule, and any associated...
How Invoice Factoring Elevates Five Key Industries
In an era where financial agility is desired and necessary, invoice factoring has emerged as a potent tool for maintaining a consistent cash flow. The following industries are leading the charge in...
Navigating Economic Challenges and Small Business Trends
The business world continues to grapple with economic unpredictability. Small businesses are no exception, facing the rise of unfilled jobs and mounting concerns about inflation and labor quality....
Understanding The Consequences of a Loan Default
The world of lending can be a slippery slope. When commitments are not met, it can lead to severe repercussions. A prime example of this is a loan default. What is a Loan Default? A loan default...
A Strategic Financial Guide to Business Loan Refinancing
Have you ever pondered over the workings and benefits of business loan refinancing? It’s time to demystify it! Business loan refinancing is an astute financial tool designed to replace your existing...
The Impact of Federal Rate Hikes on Small Businesses
According to Kevin O'Leary, one of the most influential figures in the finance sector, the recent rate hikes imposed by the federal government have put small businesses in a precarious position....
Harnessing the Power of Invoice Factoring with First Union Lending
What is Invoice Factoring? Invoice factoring is a powerful financial tool that can change how businesses manage their cash flow. It's a service where businesses sell their outstanding invoices to a...
How Banks Can Thrive Amidst Rising Interest Rates
The Warning from Wall Street Jamie Dimon, the CEO of JPMorgan Chase, recently sounded the alarm on the potential for interest rates to climb as high as 7%. His warning serves as a wake-up call to...
The Impact of the SBA’s Prime Grant in 2023
In 2023, the Small Business Administration (SBA) committed $8 million to a game-changing initiative known as the Prime Grant. This program has since paved a path for micro-entrepreneurs,...
A Practical Guide for Negotiating Favorable Business Loan Terms
In today's cutthroat business landscape, securing favorable loan terms is vital to your company's success and growth. Whether you're launching a new venture or expanding an existing one, mastering...
Unveiling Fintech Myths – Separating Fiction From Financial Facts
First Union Lending is enthusiastic about empowering our clients with the facts - helping clear away misunderstandings while paving the way to financial freedom. In light of that mission, let's dive...
How SBA Loans Can Empower Nonprofits
The Lifeline for Nonprofits: SBA Loans The Small Business Administration (SBA) is not just for profit-driven businesses. It also extends its support to eligible nonprofits, providing them with the...