LOS ANGELES, Jan. 21, 2014 /PRNewswire/ -- California has always been known as an ideal state for innovators. Yet, in challenging economic times, the quick business loans needed by ambitious entrepreneurs are increasing difficult to come by. That's why so many small and modest-sized business executives have come to trust Advantage Capital Business Loans, featuring a team that is dedicated to serving the unmet financial needs of small and medium size businesses alike. They understand that traditional small business loans are extremely difficult to get approved, with most banks far more willing to do business with large multi-national companies that are perceived to have much lower risk.
NBC San Diego reports that the U.S. Department of Treasury recently provided $55.6 million to the California Office of Business and Economic Development and its state Treasurer's Office in the hopes of spurring lending to small businesses. "The funds will launch a new wave of lending that will help small businesses thrive, expand and create jobs," says State Treasurer Bill Lockyer. "Microloans have been especially successful in helping businesses in low and moderate income communities."
San Diego's California Southern Small Business Development Corp. is one of 11 state offices that work with private lenders to provide guarantees on riskier small business loans that traditional banks and credit unions are unwilling to make. While the federal efforts to spur small business are undoubtedly appreciated, small business professionals can be forgiven if they feel a sense of hesitation. After all, Congressional leaders are notorious for gridlock and bureaucratic red tape, often making even well-meaning business lending more trouble than it's worth.
Fortunately, while traditional lenders and government institutions are almost always a risky endeavor, small business CEOs and other professionals are increasingly coming to realize they can count on Advantage Capital Business Loans to provide a truly top notch lending experience. The team at ACBL recognizes the challenges that small and medium-size businesses are faced with when it comes to financing, which is why they've created a program for loans that are simple, quick and easy to get approved.
While banks but the majority of weight on personal credit, value of collateral debt to income ration and overall profitability of a business, ACBL underwriters put the majority of weight on the efficiency and potential of a business. In today's economic climate, wherein so many business leaders need to take on substantial debt simply to get their companies off the ground, this innovative lending method can prove utterly invaluable.
The federal funding to California will be dispersed between two separate programs, the California Small Business Loan Guarantee Program and the California Capital Access Program. However, for the many business professionals that would rather not deal with the confusion and complexity that is endemic to state and federal agencies, lending from ACBL will always be the top choice. For a free quote, contact Advantage Capital Business Loans at (877) 379-0202, or online at AdvantageCapitalBusinessLoans.com.
PR submitted by www.Cyberset.com
SOURCE Advantage Capital Business Loans