Let Your Company Shine With Business Funding in Arizona
From Santa Fe to Mesa, the southwest is filled with business opportunities. Whether you’re in the restaurant industry or run a small medical practice, this region offers a variety of industries with a friendly business environment.
Arizona boasts a population of roughly 7 million people, making it the 14th most populated state in the United States. As ranked by Forbes.com, Arizona is considered one of the top 25 states to do business in and is growing at a rate expected to be the third fastest in the country by 2021.
With big city destinations like Phoenix and college-centric areas like Tucson, Arizona embodies a well-rounded economy that rivals entire countries, producing a larger gross regional domestic product than Ireland, Finland, and New Zealand.
While the Grand Canyon State’s business economy has improved by leaps and bounds over the last decade, the companies that call it home have found it harder and harder to qualify for business funding in Arizona, primarily with traditional lenders.
Fortunately, there are options available to your business that offer more flexible SBA loans and other business funding options in Arizona.
Common Business Funding Types in Arizona
When it comes to business funding in Arizona, it’s important to remember what works for one company won’t always work for another. Begin by evaluating your business’ needs and how you would use a business loan, then consider your options.
The following funding types are some of the more popular choices among businesses in AZ:
Revolving Line of Credit: This type of funding differs from the traditional one-time transaction, instead functioning much like a credit card. This option offers a unique type of flexibility, allowing you to take the cash you need when you need it while only paying towards what you use.
Merchant Inventory Financing: Most businesses are sales driven and rely on inventory to make a profit. If a shipment is delayed or you plan to purchase more inventory than usual in preparation for your busy season, merchant inventory financing can provide you with the additional capital to do so.
Commercial Loans: From commercial trucking to fishing, this type of business funding can be used to help cover large financial expenditures that your company may otherwise be unable to afford.
Business Equipment Funding: Most business owners do not have the cash on hand to repair or replace expensive business equipment. This type of funding can help your business replace equipment quickly and avoid any major setbacks.
SBA Loans: SBA loans in Arizona are another popular way of funding your business. The Small Business Administration is a government aided resource aimed towards giving small businesses the same opportunities as larger companies.
How to Qualify for Small Business Funding in AZ
From SBA loans to merchant cash advances, there are plenty of funding options available to your business. However, traditional bank loans have become harder to qualify for not just in Arizona, but the rest of the country as well.
With the need for alternative funding on the rise, companies like Fast Capital 360 have stepped in to provide the fast, flexible business funding companies in Arizona are looking for.
Unlike banks, Fast Capital 360’s application takes mere minutes to complete. Once submitted, one of our passionate business advisors will reach out to inform you on which funding types you qualify for.
While many of our applicants receive a decision on their business in under 60 minutes, what our customers love most about our small business funding is our ability to get them the cash they need in under 24-hours.
Whether you need an SBA loan or a revolving line of credit to help your business grow, Fast Capital 360 offers a variety of options aimed to give your business the spark it needs to take its next step.
Call us at (800) 735-6107 or contact us online and you could find out what kind of funding your Arizona business qualifies for today.