Biz4Loans a Small Business Loan Company in California Discusses Small Businesses Relying Less on SBA Loans
This year, small businesses across the state requested about $16 million less in loans from the U.S. Small Business Administration – compared to last year – and have been relying more on traditional business loans.
Fresno, CA -- (SBWire) -- 11/12/2014 --This year, 845 loans were approved, totaling $449 million. Of those, 746 loans were approved through its general small business loan program for around $383 million. Certified Development Companies approved 99 loans for $66 million through the SBA's real estate and equipment loan program.
That's down 3 percent from last year, when the SBA approved 917 loans for $465 million.
According to SBA Spokesperson Mike Ernandes, even with the slight decline, SBA lending continues to remain stable. "With the economy in North Carolina improving, some lenders are following positive economic trends and financing loans conventionally," he says.
Between Raleigh, Cary and Durham, small businesses received almost $70 million in 115 loans. Businesses in Raleigh received 62 loans worth about $37 million, Durham received 33 loans worth $12.5 million and Cary received 20 loans worth $19 million.
"Almost half a billion dollars in SBA funding enabled small businesses to create jobs and support our state's economy," says SBA District Director Lynn Douthett in Charlotte. "Thanks to all of our lending partners who provide the access to capital that help our small businesses grow and succeed.
Explore the resources available from the SBA.
Look locally when shopping for a lender.
About Small Business Loans
Biz4Loans is a California-based company with an exciting new way of quickly closing commercial loans for businesses small and large. With a customer-centric focus and a high standard for quality service, we embrace new technology to pass cost savings on to our business clients. Entrepreneurship Advocates “Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t. “ – Anonymous We believe entrepreneurship to be one of the most rewarding journeys that a person can pursue and that no two entrepreneurs are the same. Some seek a better life for themselves and their families while others take on the risk in pursuit of independence. Whether it is a small town where everyone knows each other or a big city that never sleeps, every community relies on entrepreneurs to create and provide jobs and to usher in new possibilities. At Biz4Loans, we understand the challenges that entreprenuers face in financing their venture. We also understand that a startup entrepreneur frequently has to wear many different hats while her company is getting off the ground. This is why we provide a quick, convenient, and detail-oriented process that achieves results without unnecessary delays or obstacles. Growing the Business Community commercial loan brokers Whether it is financing to cover initial start up costs, purchasing of new equipment for an existing business or an expansion of facilities, Biz4Loans can help. We know that sometimes unexpected costs as well as unexpected opportunities require quick and decisive action. Our ability to quickly close a wide variety of loans has allowed us to build strong relationships based on our reputation for serving our clients effectively. Because of our speed and adaptability, Biz4Loans has brokered over $500 million in funding to businesses ranging from farms, hotels, and non-profits to office buildings, surgical centers and apartment complexes.
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