The United States is moving forward with jet engine sales to Turkey ahead of a NATO summit, according to sources. The decision marks a significant development in defense relations between the two nations.

The move comes as Turkey prepares for the upcoming NATO summit, where defense cooperation is expected to be a key topic. Sources indicate that the sales process is advancing, though specific details about the engines or the timeline remain undisclosed.

This development could have broader implications for regional security and NATO alliance dynamics. The jet engine sales are seen as a step toward strengthening military ties between the US and Turkey.

Further details about the agreement, including the number of engines and the financial terms, have not been released. The announcement underscores the strategic importance of Turkey in US defense planning.

First Internet Bank today released its Do More Business Report, revealing that small businesses are maintaining stability in a constrained economic environment by actively managing rising costs. The report highlights that while businesses feel resilient against financial shocks, inflation remains the primary challenge, prompting pricing adjustments and margin trade-offs. Consumers continue to support local businesses but are becoming more selective with their spending, emphasizing the need for flexible payment options and strategic financial guidance.

Small Businesses Show Resilience

The research indicates that over three-quarters (76%) of small business owners report being well-positioned to absorb financial shocks such as rising costs, slower demand, or delayed payments over the next 12 months. However, cost pressures remain the defining challenge for these entities. Forty-six percent of small business owners cite inflation and rising expenses as their top concern, outpacing worries about customer demand, cash flow volatility, and regulatory change.

In response to these pressures, businesses are adopting active management strategies. Approximately half of the surveyed owners have raised prices, while nearly a quarter (23%) choose to absorb higher costs to maintain customer relationships and competitiveness. This approach reflects a measured confidence, with most businesses planning steady or moderate growth rather than aggressive expansion as they balance opportunity with ongoing economic uncertainty.

Opportunity to Deepen Banking Partnerships

The report finds that most small business owners (76%) report satisfaction with their bank’s digital experience. Core capabilities such as mobile banking, real-time payments, and fraud monitoring broadly meet expectations, indicating that foundational digital tools are largely in place. However, the greater opportunity lies in strategic guidance and financial education.

As businesses navigate cost pressures and evolving demand, they are making increasingly disciplined financial decisions and looking for support beyond transactional banking. The report suggests that greater clarity around available financing options and more proactive guidance can help businesses make more informed decisions and confidently pursue opportunities in a more uncertain environment.

Consumers Remain Supportive, but Selective

Consumer support for small businesses remains robust, with nearly all consumers (96%) stating that supporting local businesses matters to them personally. Most (83%) have shopped at a small business in the past month, and 37% shop at least weekly. Additionally, 68% of consumers indicate a willingness to pay a premium to support these businesses.

Even when small businesses raise prices due to external factors, 78% of consumers say they are understanding. Yet, spending decisions are becoming more deliberate. Nearly one in five consumers report abandoning a purchase when their preferred payment method is not available, underscoring the importance of flexibility and convenience.

"The confidence we’re seeing from small businesses is encouraging, and it reflects real opportunity ahead," said Nicole Lorch, President and Chief Operating Officer of First Internet Bank. "At the same time, businesses must navigate a more complex environment, forced to balance cost pressures, customer expectations and growth decisions. Owners have told us they want faster access to capital, clearer guidance on financing options and digital tools that reflect how they actually run their businesses. That’s the foundation for the kind of banking partnership that helps businesses succeed in today’s environment."

Survey Methodology

First Internet Bank commissioned two independent surveys to understand how small businesses and consumers are navigating the current economic landscape. The small business survey was conducted by Centiment among 200 U.S. small business owners and entrepreneurs with annual revenue under $5 million. The consumer survey was conducted by Dynata among a nationally representative sample of 1,000 U.S. adults. Both surveys were fielded in March 2026.