Small Business Loans In California

Small Business Loans In California

Huntington Beach, CA: Running a business is challenging. You have to cover monthly expenses, manage people and inventory, satisfy customers and market and advertise your business. Unfortunately, most businesses fail within 2-3 years opening due to cash constraints. This is partially due to not being able to qualify for a small business loan.

Banks lend to small businesses, but qualifying for such loans is very difficult. You need to have a history of profitable operations, retained earnings and positive working capital. These things sound achievable, but a lot harder than they look.

Luckily, small business loans in California are available to business owners that can not qualify for traditional bank financing. Virtually any asset found on a balance sheet can be used as collateral for a loan. The assets that can secure a small business loan in California are real estate, equipment, inventory and accounts receivable. Also in this group, though not listed on the balance sheet as an asset, are purchase orders.

Working capital lines of credit and term loans are the two types of small business loans in California that are available. Term loans are for fixed assets or long term expenses (think of a loan with monthly payments like a mortgage) and working capital loans are for short term needs to cover the day-to-day operating expenditures (think of a revolving line similar to a credit card, but not as expensive).

Could your business benefit from a revolving line or term loan? We secure small business loans in California and across the country. Give us a call to learn more (844) 239-2632.