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Are you looking for California’s best business loans & startup financing companies? If you run a small business in the Golden State, then you can access different types of loans to meet your financial needs. In 2018, California had about 4.4 million firms operating in different cities. These businesses employed 7.4 million folks, relying on more than 19k loans received from lenders.

However, California business operators will realize that different lenders offer various loan types, both traditional and non-conventional. Also, different loan types are secured and require collateral. That’s why you should keep your options open and always be on the lookout for loan types with flexible terms and reliable lenders in the Golden State. You shouldn’t forget to look into no-credit equipment financing options if you can’t get a business loan via traditional means.

Consider these 10 business loans & startup financing options in California to get started:

1.  Swoop Funding

Swoop Funding is every California-based small company’s top startup financing option. It will offer entrepreneurs a range of funding solutions to meet their needs. You can access many loan types, including traditional term loans and innovative financing options with a simplified funding process.

2.  Bank of California

A good thing about running a business in California is that you have no lack of lenders. Some of the biggest banks in the US will finance your equipment purchases, M&As, business expansion, or anything else. You can now easily apply for business loans at the Bank of California. You can use these loans to expand your business, purchase commercial real estate, buy heavy-duty business equipment, or fund another valid business expense.

3.  Lendistry

If you need flexible financing options, then get in touch with Lendistry. Loan amounts here start at $25k, and repayment is due in the next 10 years. You can easily start your loan application & get funded in a jiffy. Lendistry also offers a variety of loan types for Californian businesses, especially when it comes to the purpose of taking out a loan. Term loans can go to $5 million with a business with the credit score being 640 qualifying for it. As for real estate loans, you can get $10 million in this regard.

4.  Bank of the West

This California-based lender has been operating since 1985. It works with the Small Business Administration (SBA) to provide financing to local companies. Loan amounts range from $50k to $5 million, with the term being up to 25 years. Your business has to be fully occupied by you & the business loan will be fully amortized. Financing is available for up to 10 years for acquisition or refinance. Financing provided up to 10 years to promote growth or expansion, secured by commercial real estate.

5.  Harvest Financing

Based in Laguna Hills, this lender has an interest rate of 5.5%, while $1.24 million is the maximum amount that you can get from Harvest Financing. SBA 7(a), FAST, 504, and other loan types are available here for businesses investing in real estate. As for conventional loans, you’ll get up to 70% LTV for loans that are less than 5 million dollars. Up to 10 million dollars, you’ll get 1st TD with 70% LTV. You can use these funds for financing, purchasing office equipment, or simply bailing out your business from debt.

6.  Redwood Capital Bank

Lucky for you, Redwood Capital Bank provides commercial lending options to help small companies get the necessary funds for business expansion or acquisition, especially if you’re operating right now from Humboldt County. So, Redwood will give you SBA 7(a) and SBA 504 loans. edwood Capital Bank can help finance loans for most new and used equipment and machinery.  Terms range from five to ten years, depending upon the life of the equipment being purchased.  Redwood Capital Bank can finance up to 90% of the cost of new equipment and up to 80% of the cost of used equipment to qualified borrowers.

7.  Enterprise Bank & Trust

This is yet another lender that can help Californians pursue their entrepreneurial dreams. The interest rate is 5.10%, and the average loan size is $1.56 million. This way, your business can go for expansion capital, a new capital structure, succession planning, and ownership transitions. What sets Enterprise Bank & Trust apart from other loan providers is how flexible their terms are and the expert guidance they offer their clients. The lender’s local decision-making is also a major reason why Californian business owners prefer its services over others.

8.  Commercial Business Bank

CBB is headquartered in California but operates in other states, such as Texas. Its SBA 7(a) loan programs will help your Californian business get financed quickly with $5 million as the max loan amount possible, 90% financing available, and repayment for as far as 25 years. You can use this money to acquire another business and refinance your startup’s business debt. Moreover, the 7(a) loan approved by the Commercial Business Bank comes with 90% bank financing. For loan terms less than 15 years, you’ll get 0 pre-payment penalties.

9.  Newtek One

This lender provides your business with funding as term loans that go up to $15 million. You can easily expand your business or acquire another one with this amount. The repayment period can be 5 to 25 years based on various factors. You can refinance your existing debt with this money or buy owner-occupied real estate with these funds. Also, up to $5 million is available as a revolving line of credit. If you want to receive pre-qualification, then talk to Newtek’s specialist now.

10. Mission Valley Bank

In 2007, the Small Business Administration gave this bank the prestigious Preferred Lender Program (PLP) status. If you need quick money to fund your business operations, then you should get in touch with the Mission Valley Bank. This lender offers you flexible & competitive rates, quick approval, lower down payments, and extended financing terms.

California Government Resources

Check out these government resources about business grants/funding and startup financing options in California:

• CALOSBA Grants and Financing for Small Businesses and Non-Profits
• Business Loans for Startups in San Francisco, CA
• Small Business and Restaurant Assistance Program in San Diego
• Alameda Business Resources
• Community Grants in Antioch, CA

Top Cities in California for Business Loans

Curious to know which cities, towns, or census-designated places (CDPs) in California are the best for business loans & startup financing? If you live in any of these 30 cities, then you can easily access SBA loans or other nontraditional financing means to embark on your entrepreneurial journey:

1. Los Angeles
2. San Francisco
3. San Diego
4. San Jose
5. Fresno
6. Sacramento
7. Long Beach
8. Oakland
9. Bakersfield
10. Anaheim
11. Santa Ana
12. Riverside
13. Stockton
14. Chula Vista
15. Alameda
16. Fremont
17. San Bernardino
18. Modesto
19. Fontana
20. Oxnard
21. Moreno Valley
22. Glendale
23. Huntington Beach
24. Santa Clarita
25. Garden Grove
26. Santa Rosa
27. Ontario
28. Antioch
29. Lancaster
30. Salinas

Conclusion

Choosing the right financing partner is important for startups and established businesses alike. Your California-based business must choose a lender based on factors like loan terms, interest rates, customer service, and online reputation. So, get in touch with Sophisticated Investor to get started and pave the way for sustainable business growth & innovation.