LOS ANGELES, June 10, 2013 /PRNewswire/ -- Last month, San Francisco mayor Edwin M. Lee announced the launch of the Emerging Business Loan Fund. This program makes $12 million in affordable business loans available to support small businesses, boosting the local economy and creating jobs. While the small business loan program in San Francisco may seem revolutionary among most traditional lenders and big banks, it is not unprecedented. Advantage Capital Business Loans (ACBL) has built a name as a leader in providing effective and quick business loans for small and medium-sized organizations.
Founded with a goal of creating loans that are simple, quick and with a high approval rate, ACBL essentially provides the antithesis of the traditional business loan. By assigning dedicated account executives, underwriters and funding coordinators that guide each loan recipient in creating a loan that helps achieve their specific business goals, ACBL has built a culture that favors small business owners as opposed to large, multinational corporations.
For many entrepreneurs seeking business loans, bad credit provides a seemingly insurmountable obstacle, particularly in today's harsh economic climate. However, unlike traditional lenders, who put the majority of weight on one's credit score during the underwriting process, ACBL puts most of the weight on a business's efficiency and potential. Their founders and loan experts understand that, these days, it can be almost impossible to start a business without accruing large quantities of debt, so they have done everything possible to create a loan that is fair and with a manageable payback period.
"Not only do small businesses help keep our world famous neighborhood merchant corridors active and vibrant, they also help boost our local economy," said Mayor Lee. "The Emerging Business Loan Fund will allow entrepreneurs and small businesses to secure the capital they need to innovate, grow their business and succeed." The EBLF program builds upon the success of the city-sponsored microloan program, the Revolving Loan Fund (RLF), launched in July of 2009.
Due to the program, today more than $1.3 million in loans have been given to 51 San Francisco small businesses and those owned by minorities and women, generating more than 140 jobs. This is particularly great economic news, considering the efforts of ACBL fund small businesses for those who have traditionally had the greatest trouble getting approved, such as low income women and minorities.
As San Francisco has illustrated, small business owners and entrepreneurship are crucial to creating a robust economy that will thrive in the long term. With Advantage Capital Business Loans, every small business owner can feel liberated by a fair, manageable and custom-made loan that affords them the opportunity to realize their business goals and contribute to a healthy economy. To receive a no obligation, custom business loan offer from Advantage Capital Business Loans, or if you have any questions about small business loans, visit www.advantagecapitalbusinessloans.com or call 877-379-0202.
PR submitted by www.Cyberset.com
SOURCE Advantage Capital Business Loans