Business Loans in North Carolina
North Carolina became its own state on November 21st, 1789, and has since then grown larger than anyone could have ever imagined. Now home to over 10 million people, North Carolina is the 9th highest populated state in the United States. Charlotte, NC, the largest city in North Carolina, consistently experiences rapid growth in its economy year after year and is home to six Fortune 500 companies. And, of course, there’s the state capital, Raleigh, NC – which was ranked by Forbes as #2 on their list of Best Places For Business And Careers.
North Carolina is an excellent state to be in if you’re looking to grow a business – particularly in the manufacturing, retail, and healthcare sectors, which is where capital thrives the most. North Carolina also boasts a diverse agriculture industry, leading in the production of many commodities including strawberries, sweet potatoes, and Christmas trees, among others. In fact, there are about 49,500 farms that spread across the land of North Carolina, which bring in about $76 billion each year.
But, while North Carolina is undoubtedly a place where businesses thrive, there’s still the matter of capital that new business owners have to overcome. Larger financial institutions or the SBA are usually the first places entrepreneurs turn to for funding due to attractive financing options and low-interest rates, but qualifying for one of these loans can be extremely challenging – even if you have great personal credit. This is why more and more small business owners are turning to other lenders for the funding that they need.
Here’s more info from our experts to help your small business thrive.