California businesses are seeing rapid growth with an increase in the number of businesses opening each year. Seeking out business loans in California, from booming Orange County to Los Angeles and San Francisco, could help you stand apart from the growing competition.
California is an ideal location to grow your business due to its large population and booming economy. This makes it an ideal location to invest in your company using businesses loans in California. The state’s regions offer an immense variety of communities and opportunities. According to The Los Angeles Times, California’s economy is the fifth largest in the world. In 2017, the state’s gross domestic product passed $2.7 trillion, trailing right behind the total GDP of the U.S., China, Japan, and Germany.
The diverse locale and landscapes in the state of California offer plenty of opportunities in a wide range of industries. The Central Valley region is known for its agriculture business. Meanwhile, Silicon Valley serves as one of the largest tech hubs in the world. California’s versatile setting makes it an ideal place for small business owners.
If you have a great new idea or business venture, you may find yourself looking for small business loans in California. The state of California is considered a leader in many sectors, including:
• Information technology
• Healthcare and biotechnology
• Real estate
• Financial Services
• Travel and tourism
Small businesses are vital components to California’s economy and workforce. The U.S. Small Business Association’s most recent “Small Business Profile” reported an increase of 283,452 jobs created by small businesses in California in 2015. Of this amount, firms with 20 or fewer workers added 172,952 jobs. This increase demonstrates how small businesses contribute to the state’s high employment levels.
Overall, businesses are finding success in California. But there are still many state-specific challenges that are creating difficult hurdles for small business owners.
California is experiencing a high volume of younger people who lack the necessary skills and qualifications to work many vital jobs due to educational funding cuts. The growing gap of unskilled workers in one of the most high-tech states poses as a major threat for business owners. Additionally, California will soon be experiencing minimum wage hikes. While great for employees, many small business owners in California are concerned they will not be able to afford to pay the required minimum wage. This could lead to hiring freezes, worker layoffs, and a delay in business operations.
One of the biggest issues small businesses in California face is gaining access to funding. Small business owners who lack capital may not be able to expand, develop, or market their business. Is your equipment old or in need of repair? Perhaps your inventory volume can’t keep pace with orders received. Business loans in California can help business owners improve their operations and cover emergency expenses.
Small businesses have experienced high loan approval rates across the nation in the last year. While this is linked to our nation’s strong economy and low unemployment rates, it’s also due to the increase in the number of alternative lenders. Unlike traditional banks, alternative lenders offer business loans without tight lending restrictions. As a leader in the alternative business lending space, QuickBridge offers speedy capital and a streamlined application and approval process.
Some of the benefits of obtaining business loans in California with QuickBridge include:
• A straightforward application process and quick approval stage.
• Access to funding in as little as one business day after approval.
• Flexible loan terms and conditions.
• Funding up to $300,000.
• Freedom to handle tasks, like seasonal needs or equipment updates, as needed.
We understand that your business needs are unique. Which is why our loans are designed to match the opportunities and rhythms of your business. You might need to increase inventory, update machines, hire staff, or improve marketing tactics. Maybe you need immediate funding to cover a sudden emergency. With QuickBridge, you can decide how you’d like to allocate the funds from your small business loan. At QuickBridge, we don’t just provide funding. We offer lending options that make for a better, smarter small business loan.
As a leader in innovation, the future of California’s economy is bright. Now is the time to improve your business. Luckily, obtaining a small business loan in California has never been easier.
With quick access to small business loans from QuickBridge, business owners in California are making their dreams come true. Contact us today to find out more about our loan options and get your application processed today.