Banking Blog & Financial Tips

Welcome to our Banking Resources and Financial Tips Blog! Here, you'll find useful banking related articles and tips designed to empower you on your financial journey. Whether you're looking for budgeting advice, insights on savings, tips for growing your business or ways to enhance your financial well-being, our blog offers expert guidance to help you make informed decisions.

Start exploring and take the first step toward financial confidence today!

Helping Renters Become Homeowners

June 6, 2024

BayFirst provides several programs to help renters become homeowners despite rising mortgage rates and home prices. We offer adjustable-rate mortgages (ARMs) with initial lower rates, a Downpayment Assistance Program providing up to $5,000 for eligible buyers in specific areas, and the BayFirst 100 loan that allows financing a home with minimal down payment and no monthly mortgage insurance. These options aim to make homeownership more attainable for renters in the Tampa Bay area. For more details, contact BayFirst or visit our website.

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8 Myths About Small Business Loans

May 23, 2024

While most are aware of the Small Business Administration (SBA) and the loans it provides to get small business owners the capital they need to start or expand their businesses, many misperceptions exist about SBA loans themselves – from eligibility requirements to applying, terms, uses and more. To help set the record straight and ensure business owners understand how an SBA loan can provide financing they wouldn’t otherwise qualify for, the SBA lending experts from BayFirst have pulled together (and debunked) the top eight myths about SBA loans.

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Small-Dollar Loans for Small Businesses

April 12, 2024

Through the 7(a) Loan Program, the U.S. Small Business Administration (SBA) provides qualified small businesses up to a maximum of $5 million to keep moving forward. However, according to the National Association of Government Guaranteed Lenders (NAGGL), it is small-dollar loans that are in the biggest demand.

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Mortgage Acronyms Demystified

March 5, 2024

Though buying a home is exciting, for first-time buyers or those unfamiliar with the process, it can also be slightly confusing, especially when choosing the best mortgage product and signing documents filled with acronyms. To help you navigate the world of mortgage lending and make more informed decisions when buying a home, the experts at BayFirst have created the below “cheat sheet” with commonly used acronyms, which can be the key to getting your keys with peace of mind.

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Strong Passwords & Multi-Factor Authentication Tips

January 10, 2024

The internet is intertwined with all our daily lives. While it allows us to connect with people across the world, access limitless amounts of information instantly, bank online, and more, these conveniences come with many risks as well. It is now more important than ever to protect your personal information online by utilizing multi-factor authentication and creating secure passwords.

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Small Business Resolutions for 2024

January 8, 2024

As we all look ahead to the promise of a new year, it’s likely that most business owners have begun setting new goals and looking for ways to ensure greater success in 2024. For those in search of new strategies, expert advice, or just thought starters for the New Year, the experts at BayFirst have compiled a list of Small Business Resolutions every business owner should consider making as January 1 approaches.

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Alternative Homeownership Paths

October 12, 2023

After larger down payments in bidding wars became the norm over the past few years, down payments are shifting—and shrinking, according to a report from Realtor.com.

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Seller Financing: A Win-Win for Business Acquisitions

July 26, 2023

Following the Small Business Administration's (SBA) recent changes to its guidlines related to partial business acquisitions, those interested in acquiring a business or a partial ownership interest in a business will likely have some questions about seller financing, which should become more common now that these types of acquisitions can be made with the help of an SBA 7(a) loan and cash injection (down payment) requirements have been loosened.

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SBA Guidelines: Partial Business Purchases Allowed

July 18, 2023

The Small Business Administration (SBA) recently announced changes to its guidelines, which will completely change things for those interested in a partial business purchase.

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Boat Buying Tips: Smooth Sailing Do's and Don'ts

July 13, 2023

The allure of owning a boat and embarking on adventures on the open water is hard to deny. But when you’re ready to set sail on your boat-buying journey, it’s important to tread carefully and navigate the financial aspects wisely. To help, we’re exploring the dos and don’ts of buying a boat to ensure first-time buyers don’t find themselves in unchartered waters along the way.

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