First Union Lending gives loans to those qualified, as we want to fund businesses all over Los Angeles. Find money for your business projects, knowing full well that there are endless resources in the City of Angeles at your disposal, and besides that commercial real estate is a booming field.
Make your LA company standout; do not rely on traditional banks as a source of a loan. Business loans can only be given out if there is proof of income that a business owner can show the lender. Try First Union Lending with a different approach to the structure of lending, where you get funds when you need them.
We offer short-term loan programs along with lines of credit and invoice factoring. It is easy for any customer to get their foot in the door by filling out an online application, with your proof of income, and an ability to submit basic documents. Upcoming plans and projects that you have for Los Angeles small business since whatever industry the asker is in, we have loan programs that suit your needs. Every loan must be paid back, because of Los Angeles business loans, once you make a profit.
Los Angeles boasts 244,000 businesses, with minority and women-owned businesses created than in any other nation. L.A. is a great place to start a business with an abundance of resources including all the colleges in the immediate area.
A business loan can help an entrepreneur with access to working capital, debt consolidation loans with a weekly payment and being supplied with a business credit card. Commercial real estate loans help to refinance an existing mortgage to buy an office building or a commercial sales space. A loan can only be given if the business is successful, and there is proof of income. The firm must be turning a profit.
Bank loans are amortized between 1-30 years in order to purchase businesses, refinance business debt, consolidate debt, purchasing and refinancing real estate, and in general to have capital around for other expenses as they arise. We have many loan program options available.
In order to get working capital to work with SmartBiz, we try to make it easy for the business owner to access an SBA loan online matching a business with the bank most likely to help the loan get funded. Those inquiring into a loan can pre-qualify in five minutes while providing your basic information online. Then we will automatically tell a business owner if they pre-qualify.
An SBA loan is a business loan backed by the United States Small Business Administration because the purpose of SBA lending is to provide funding for small companies that are not able to get traditional bank financing for their business.
The bank provides loans even as the government agrees to take on the majority of the bank’s losses should the small business default on the loan. Financing can be provided for the following situations: starting or buying an existing business, buying a building, constructing new buildings or even securing working capital. There are many options for the entrepreneur on how to fund a business.
SBA qualified businesses have to be for-profit, meeting SBA’s definition of small business, having a reasonable amount of equity, when all other financing options are spent. The business cannot afford to miss a payment while paying off government debt.
The SBA loan must be for a valid business purpose because there needs to be a valid need for an SBA loan. Businesses that cannot get loans are other financial businesses, developers and rentals and any business doing illegal activities.