Entrepreneurs Creating Startups
Startups are typically classified as businesses that are less than one year old. These businesses tend to have few employees – in fact, most startups only have one to four employees at the most. Their capital needs, however, are numerous. These entrepreneurs need access to funds to buy necessary assets, start production, acquire the right licensing, and so. However, they may not have many business assets available for collateral or a track record of successful businesses behind them, which can make appealing to traditional lenders more challenging.
Loans to Consider:
New Business Owners Who Want to Expand
For every successful new company, there's a moment when you know you've arrived. However, your business isn't always ready to deal with rapidly growing orders or high numbers of new customers. Sometimes, you just need more help, more space, more equipment…more of everything – which is a challenge when your cash is tied up in current operations. So if you're ready to expand, you need to find the right source of capital.
Loans to Consider:
Businesses Taking It Slow But Ready for a Cash Infusion
Not everyone wants to grow as fast as possible, as soon as possible. Some companies prefer to take it slow, creating a solid foundation and working on customer loyalty. If you run a business like this, you may prefer to stay local. Or maybe you want to spend a few years developing the perfect lineup of products before going big. Whatever the reason, these businesses may also need cash for their own projects, from holding a community event to polishing up a new website.
Loans to Consider:
Immigrant or Female Business Owners
Did you know that small business loans to women in California have fallen by 70% in the past 10 years? Even in large and traditionally open markets like California, running a business as an immigrant or female owner can prove particularly challenging. Immigrants, for example, have been shown to have a higher likelihood of starting and owning a business, but consistently have a 30% lower sales level – and their primary source of funding is typically personal savings or borrowing from friends and family. The market can be tough for minorities…but the right loan from the right lender can help. It's time to look at loan programs designs for minorities or nontraditional loans that may offer specific advantages to women and immigrants. We can help with that!
Loans to Consider:
Owners Who Run a Seasonal or Flexible Company
If you run a season business, you know exactly what we're talking about. Whether you sell winter sports gear or get most of your revenue from outdoor events, certain times of the year are simply going to be slower than others. Talented business owners know how to switch inventory and balance things out, but it isn't always enough. If you are feeling the weight of your overhead during an off-season or a particularly slow part of the year, it's time to consider new sources of capital. Owners like aren't interested in a lump sum or big payout – they just want funding to make it through a dry period to the next oasis.