Conventional lenders, such as the ones noted above, abound throughout the state. And while a local bank might be at the forefront of your mind when you’re seeking a small business loan in California, the process to apply and get funded can be taxing. In addition to taking some time, there can be a lot of paperwork involved and you’ll likely need a good credit score and collateral to secure your loan.
Online nonbank lenders and merchant cash advance companies in California offer alternative financing options. They’re known for their speed of funding and streamlined applications.
Additionally, if you’re looking for small business loans in California for bad credit, an alternative lender typically accepts applicants with lower credit scores, provided other requirements are met. To offset their risk, alternative lenders often offer shorter repayment terms and less competitive rates than conventional lenders.
At Fast Capital 360, minimum financing and small business loan requirements in California include the following:
- 500+ FICO score
- 6 months in business
- $10,000 monthly revenue
- 6 months of most recent bank statements
Additionally, our business loan rates in California start as low as 7%. Merchant cash advances (MCAs) in California have factor rates starting at 1.10, with advance amounts up to $500,000 and repayment terms ranging from 3-24 months.
Applying for Alternative Financing With Fast Capital 360
Looking for fast business loans in California? Find quick financing with Fast Capital 360.
Here are the advantages of applying with us.
Complete your online application in just a few minutes.
With your single application, you’ll get access to financing offers from our nationwide network of lending partners.
A Business Advisor will be in touch to review your funding offers so you can select the best option for you.