How to Get a Small Business Loan in Southern California
Small Business Assistance Tool
Use this helpful online tool to find assistance for starting, growing and accelerating your business.
Are You Ready For a Small Business Loan?
At some point you’ll seek a business loan, to take on a new contract, hire employees, or finance an expansion to a new location. Whatever you do, don’t surf the web for a business loan. Online predators make huge profits from unwary borrowers anxious to get started with their business and reluctant to take the right steps to get a good loan.
For most business loans you’ll need to
Most lenders will need to see your business and personal income and expenses are kept separate with different bank accounts and credit cards.
Avoid surfing the web for a business loan.
Lenders will need to see you have a good history of repaying your loans (credit score) and reporting your income (tax returns.)
TAKE TIME TO PREPARE BEFORE YOU APPLY FOR A BUSINESS LOAN
Great Advice From Our Micro-Lenders
– Stacey Sanchez, Senior Community Loan Officer for CDC Small Business Finance
Don’t be discouraged by the process, especially if it’s the first time you’ve tried for a business loan. The micro-lenders can put you in touch with business counselors to help you determine what type of loan is best for you, when is the best time to borrow, and how much. Using business capital effectively to grow your business is an important step to success.