The Golden State of California’s economy is massive, with a gross state product of 3 trillion, which is larger than most countries globally. California is ranked as the fifth-largest economy in the world and is the home to 3 of the world’s ten largest companies by marketization. With such sizable economic development, California small businesses can capitalize on such a large market and workforce.
Despite the various advantages that California's small businesses possess within the state, they still face difficulties when obtaining small business loans. Traditional banking institutions such as Wells Fargo, Bank of America, and Chase Bank have strict requirements for small business loans, making it challenging for small business owners to secure funding. However, alternative options are available, such as AdvancePoint Capital, which offers access to a marketplace of financial institutions and alternative funding sources.
By working with AdvancePoint Capital, small businesses in California can find affordable loan options tailored to their specific needs. So if you're looking for business loans in California, don't let strict bank requirements hold you back – explore alternative funding options and see how AdvancePoint Capital can help your grow your business.
Secure Small Business Loan in California Easily
AdvancePoint Capital has the experience, and access to a large small business finance center marketplace with various loan programs to help borrowers. We guide, provide, and serve the needs of every borrower, no matter what the industry, community, language (including Spanish), revenue, or income qualifications.
AdvancePoint Capital helps small businesses thrive and make smart funding decisions using our simple application process. Experience our easy business loan process! We have the resources to help the small business owner compare, shop, and save various small business loan options to make the right decision for a loan program.
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AdvancePoint Capital makes the loan application process a simple, straightforward experience.
9 Best Small Business Loans in California (March 2024)
Small Business Loans
The most requested finance product that most small businesses ask for is a small business term loan. The main reason small business owners love term loans is fixed rates, fixed terms and fixed payments.
SBA Loans in California
The Small Business Administration is the federal agency that administers the loan guarantee program for approved SBA lenders. The small Business loan guarantee is for approved lenders so the will lend to small business and offset the risk for default. SBA loans have great interest rates and very attractive terms. SBA lender criteria can be tough, but eligible applicants are encouraged to apply for funds.
Merchant Cash Advance in California
A Merchant cash advance is an advance paid back out of future credit card processing sales receivables of the business. This is not a loan, but an advance. Popular with business owners who cannot get approved for traditional business loans. No minimum credit score requirement. Business owners often use proceeds for working capital.
Business Cash Advance
Business cash advance is not a loan, but an advance of future sales receivables of the business. A set fixed percentage of future sales is the form of repayment for the advance, making repayment flexible to future sales cash flows. No minimum credit score requirement.
Business Line of Credit
A business line of credit is a flexible financing option that provides funds that a business can access and draw on an as-needed basis. It allows businesses to borrow money up to the credit limit, repay the borrowed amount, and then borrow again, making it a revolving form of credit. Interest is only applied based on outstanding balance. If you want to borrow money short term this is a very affordable option.
Equipment financing is a great solution that leverages the equipment as collateral to receive favorable terms that offset the high cost of acquisition. Repayment duration is over years and not months making payments affordable. Simple application process with same day pre-approvals available.
Invoice Financing in California
Invoice financing, also called factoring, is for businesses that predominately invoice there clients on a monthly basis for goods and services and want to get an advance off of those invoices before they meet terms whether it be 15,30,45 or 60 days. Great business funding product to accelerate cash flow.
Short Term Small Business Loans
Short term small business loans are shorter in duration to repay so that greater risks can be taken by business lenders and allows for looser criteria such as credit and cash flow analysis, making it easier to get approved. Fast loan process and great option for working capital.
Long Term Business Loans
Long term small business loans are for small business owners wanting to finance large expensive expansions to there business and loan amounts that need to spread lending terms over an extend period of time so they can have affordable small business loans with attractive payments based on current revenue streams.
How to Grow Your Business in Los Angeles
View the Los Angeles Small Business Resource Guide
How to Grow Your Business in San Francisco
View the San Francisco Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.
How to Grow Your Business in Sacramento
View the Sacramento Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, finding an SBA lender, and contracting.
How to Grow Your Business in San Diego
View the San Diego Small Business Resource Guide
Common Uses of Loan Proceeds by Businesses in CA
Additional Resources, Government Programs, and Loan Information in California
- IBank California Infrastructure and Economic Development Bank
- The Small Business Loan Guarantee program
- The California Capital Access Program for Small Business, also known as CalCAP
- California Rebuilding Program: Disaster Relief – Loan Guarantee Program
- Valley Economic Development Center Business Loan – VEDC
- Los Angeles County Development Authority
- Working Solutions Working Solutions (a CDFI)
- Opportunity Fund
- California Small Business Grants