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How Your Business Can Maximize Low Interest Rates

In the past when I have tackled this topic, we were expecting significant interest rate increases. However, most recently we have seen interest rates decline. That still begs the question – as a business owner, what should you do? There are several things you can do as a business owner to take advantage of historically low rates.

  • Refinance – If you have any long term debt that carries a high interest rate, you should consider refinancing this debt. Be sure to review your documentation for exit or penalty fees. Also, keep in mind, even if you have…

Loans for Every Purpose

What types of loans can businesses obtain from a bank? The answer, although not complicated, is surprising to many. For a business, banks have loans for every business purpose. Commercial loans include all types of loans that enable a business to prosper and grow. The major types of loans are:

  • Working Capital Loans
  • Equipment Loans
  • Commercial Real Estate Loans
  • SBA – government guaranteed Loans
  • Mergers and Acquisitions

Working Capital Loans

These loans, or lines of credit, are used to finance the day to day operating costs of running a business….

Business Owners – You NEED a Succession Plan

Time passes so quickly. It won’t be long before many of us “baby boomers’ will have to consider the next transition in our careers. In the world of business financing, this is a particularly important topic for many of my customers who are the owners of privately held companies. Whether it’s planning a transition to family members or a sale of the company, your exit strategy should be defined and planned well in advance. There are many things to consider when planning your transition. Here is a quick review of the key things you should consider.

Why is a…

Protecting Your Assets

You have worked hard building your business into the success it is today. Unfortunately, there are fraudsters and criminals working just as hard to take what you have earned away from you. Thankfully, your bank can assist you in understanding how your business is at risk and the services that can help protect you and your business.

Four major areas that pose significant risk are:

  • Wire Transfers
  • Email and Network Security
  • Check Fraud
  • Internal Fraud

Wire transfers are a common target for potential fraud. As such, they are closely monitored by regulation. In…

It’s Time for a Business Check-Up

Just as we should go to our doctor once a year, an annual business check-up is a good practice to implement. Although the economy is currently strong, economic activity seems to be leveling off as we enter 2019. There are many headwinds that could affect your business next year.

Doing a check-up now will help you determine what things to continue, what things to stop, and what things to try. Many of you do this already, so use this as a reminder that the end of the year is a good time to review your processes and activities. The following…

Navigating Your Business in an Expanding Economy

More than three years ago I wrote an article on how to prepare for a growing economy. Not all of my strategic visions come true, but this prediction has become a reality. Currently, GDP is growing faster than expected, unemployment is at an all-time low, and consumer sentiment has returned to high levels. All indications are that this growth economy is going to continue.

As I said in my last article, it is important for businesses to prepare for the liquidity and financing requirements that will be necessary to support and grow the business. One of the key sources…

What To Do About Increasing Interest Rates

We have been saying since 2008 that you should expect interest rates to rise. Well, that time is finally here. Interest rates are not only higher today, but are forecasted to continue to rise. While there have already been increases, there are still things you can do as a business owner to mitigate the impact of higher interest rates.

Review your capital expenditure and expansion forecasts – If you’ve been holding off on any significant capital expenditures, now is a good time to lock in a long-term interest rate before further increases and while banks are aggressively seeking opportunities to…

Is Your Business Ready for a Growing Economy?

The state of the economy has challenged businesses for several years, but we are starting 2017 with positive economic momentum. The last year ended with many economic indicators pointing towards a growing economy. It is thought by many economists that if we achieve lower taxes, less regulation and expanded trade, our economy will grow even faster. Is your business ready for that growing economy?

To ensure you are prepared, consider these three things while there is time to create plans and strategies to achieve growth:

Working Capital

Will you have enough capital to support your growth? Now is the time to evaluate…

Managing Interest Rate Risk

We have been saying for several years now that you should expect interest rates to rise. This has been slow in coming, but it is expected that interest rates will increase over the next 12 months. In anticipation of increasing rates, there are things you can do now as a business owner:

  • Refinance – If you have any long-term debt that carries a high interest rate, you should consider refinancing this debt. Be sure to review your documentation for exit or penalty fees. Also, keep in mind, even if you have fees, you can earn them back if you…

2015 Business Review

Phil Jackson, the president of Univest’s Northern Division of Commercial Banking, was recently featured in the Lehigh Valley Business Journal. The 5 Questions column appears periodically and spotlights a business professional’s take on the economy and other industry issues. Here’s Phil’s take:


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