The First Business Bank Podcast is a podcast for business owners and leaders — anyone helping to advance the social and economic standing of their employees, investors, families, and communities. Nothing is more important to a thriving economy than visionary entrepreneurs determined to succeed. As a business-focused bank that works every day with business leaders, this podcast details what we see working in highly successful businesses today.
Each episode features an interview discussing business practices on topics such as company culture, communication, financial risk, strategic planning, financial performance, business continuity plans, sales strategies, foundational beliefs, and more.
Offering Equipment Financing For Your Customers
A companion episode to “Why Use Equipment Financing?’, this episode of the First Business Bank podcast features a discussion about the advantages of offering financing to customers when you’re a manufacturer, distributor, or retailer selling equipment. Offering your equipment customers financing through a responsive, reliable financial provider helps your business sell more capital equipment, increases customer retention, and builds long-term relationships.
Why Use Equipment Financing?
It’s nearly impossible to name a business with no equipment needs. (Let us know if you think of one!) Businesses in all types of industries need specialized or heavy equipment, so this episode of the First Business Bank Podcast kicks off our discussions with two of our Equipment Finance experts. They touch on offering financing for equipment from the seller, manufacturer, or distributor side of the transaction, and then focus on acquiring capital equipment.
As a business acquiring new, used, or rental equipment, why would you consider equipment financing over traditional commercial lending? This episode gets to the bottom of those competitive advantages for your business.
Growing Your Business With SBA Loans
Achieving the entrepreneurship dream of owning a business is alive and well in America as millions grabbed opportunities to start or grow their businesses in the past year. The U.S. Small Business Administration (SBA) tracks small business ownership statistics — about seven in ten small business owners start their companies from the ground up, 22% purchase their businesses, 7% received ownership of a business through a gift, and 4% inherited ownership of their business.
Started in 1953, the SBA was founded to “help Americans start, build, and grow businesses.” Whether you’re looking to purchase a franchise or existing business, refinance business debt, purchase supplies or materials, transition a business to new owners, or much more, SBA loans can do that. First Business Bank’s SBA Lending team helps clients across the United States achieve their dreams of owning and building their business with SBA loans as an SBA Preferred Lending Partner (PLP).
Managing A Remote Workforce
By some estimates, before the COVID-19 pandemic Americans spent 5% of work time working remotely, which increased to an estimated 60% in spring of 2020. For many, managing remote workers is here to stay, and building effective strategies is important to maintain productivity and satisfaction of managers and their employees.
With employees all over the country, First Business Bank managers have extensive experience managing remote teams. This episode includes perspectives from two long-term managers as they discuss building team cohesion, setting clear expectations, communication tips, minimizing distractions, maintaining team culture and efficiency, and more.
Alternative Financing Strategies for Your Business
When traditional bank loans aren’t an option, how do businesses increase liquidity so they can pay suppliers, employees, and continue to grow? Businesses in many industries turn to Accounts Receivable Financing — also known as Factoring — and Asset-Based Lending to increase cash flow. These alternative financing strategies help startups, companies in turnaround mode, and many others with cash flow challenges to access the funds they need to thrive.
This episode of the First Business Bank Podcast overviews two alternative financing strategies, requirements of each, common misconceptions, and industries and business situations in which companies often use Accounts Receivable Financing and Asset-Based Lending.
Helping Your Employees Maximize 401(k) Retirement Savings
Saving for retirement is a major life stressor for many employees. Although about 60% of U.S. employees have access to an employer-sponsored defined contribution plan, such as a 401(k), only about 43% actively participate, according to the U.S. Bureau of Labor Statistics. Business executives can help employees maximize how much they save so they feel more comfortable about their future. Decreasing retirement stress leads to higher retention rates and more productivity for companies.
This episode of the First Business Bank Podcast makes a business case for employers to implement a robust retirement plan, including ongoing education and ways to motivate employees to save so they will have enough for a comfortable retirement.
Interesting business topics
Well done podcast for business owners!