As a small business owner, you might be thinking what’s next for you or your business in the new year. Do you want to buy a business? Do you want to buy commercial real estate for your current business?
Before you make any big decisions, it’s important to establish a well-informed plan for the year. Here are three steps you can take now to set yourself up for success:
Set Your Business Goals
If you haven’t already, January is a great time to set new business goals for the year. Do you want to grow your business or expand into a new market? Are you ready to start a franchise? Whatever your goals may be, make sure they are SMART goals:
- Specific: How will you accomplish your goal?
- Measurable: How will you measure achievement?
- Attainable: Is this goal realistic for you?
- Relevant: Why are you setting this goal? How does it tie in with other goals?
- Timely: What deadline will you set for your goal?
As you develop and define these goals, consider contacting the FNB Small Business Finance team to learn about our SBA loan products. We take the time to understand your business and can structure a financing option to fit your unique needs.
Create a Strategic Business Plan
After setting your goals, create a strategic business plan that will help you accomplish them and obtain long-term financing. Consider what you’ll need for your goals and set deadlines. For example, if you’re starting a business, how will you set up your store front? Will you purchase an existing building, or will you need funding for ground up construction? Do you need working capital or new equipment to get started? Our lending team can evaluate your business goals and recommend an SBA loan with benefits that work best for you.
Choose a Lending Partner
Now that you’ve defined your goals and developed a plan, it’s time to choose a lending partner. When you partner with FNB Small Business Finance, you may have access to benefits including lower down payments, larger loan amounts (up to $5MM), and flexible rate structure. We can also structure a deal that combines multiple uses of proceeds into one loan, which can simplify the repayment process. Our team has decades of experience and can help you navigate the SBA lending process from application to closing.
Are you ready to start accomplishing your new year goals? Reach out to the lending team at FNB Small Business Finance to get started!