Philadelphia, the city of brotherly love, is the largest city in the state of Pennsylvania and the sixth-most populous U.S. city with an estimated population of 1.5 million. Philadelphia metropolitan area is also part of the Delaware Valley, which includes southern New Jersey and New Castle County, Delaware, which, as a whole, creates a massive powerhouse of economic activity.
Small businesses in Philadelphia bring innovation and vitality to the local economy. These businesses contribute significantly to job creation and economic growth, creating opportunities for individuals to pursue their passions and build successful careers.
From trendy cafes to thriving tech startups, Philadelphia is home to a diverse range of small businesses making their mark on the world. It's heartening to see the city's small business community continue to thrive, and we at AdvancePoint Capital are proud to support them through our business financing solutions.
At AdvancePoint Capital, we offer small business loans in Philadelphia with flexible terms and competitive rates. Whether you need funding for working capital, equipment, or expansion, we can help you find the financing you need to take your business to the next level.
Acquiring A Small Business Loan in Philadelphia
If you're looking for a business loans in Philadelphia, you have a few options. You can go to a bank, credit union, or other financial institution and apply for a loan. Or, you can work with an online lender.
Advancepoint's network of online lenders offers business loans of up to $1,000,000 for businesses of any size. We work with companies in a variety of industries, including manufacturing, retail, and healthcare. And we have a team of experts who are ready to help you find the right loan for your business. To get started, fill out our online form or give us a call.
9 Best Loans for Philadelphia Small Businesses (May 2023)
Small Business Loans
Get more information about funding your business with our marketplace of small business loan options. Enjoy a quick, simple application process.
Loans guaranteed by SBA range from small to large and can be used for most business purposes, including long-term business expansion. Financing comes with great rates and terms.
Merchant Cash Advance
A credit card receivables advance that allows you to leverage your credit card sales for funding now. A great alternative to traditional financing with a simple fast application process.
Business Cash Advance
A revenue based advance that allows you to leverage your revenue deposits for cash now with a flexible repayment process. Fast, simple application process.
Business Line of Credit
A business line of credit is a form of revolving financing that allows borrowers to withdraw funds up to an agreed-upon credit limit and only pay interest on the amount drawn. Application process is simple and fast.
The best way to finance equipment is through an equipment lease or loan. The application process is quick and the terms range from 2 to 7 years because the new equipment is being used as collateral.
If you invoice your clients, then invoice factoring is a great way to get an advance on an invoice you issue, accelerating payment so you don’t have to wait the net terms to get the invoice paid. All done for a reasonable fee. Simple approval process to access quick cash and improve cash flow.
Short Term Small Business Loans
If a business needs to borrow fast cash for a short time period (lasting 6 months to 24 months), a short-term business loan might be the solution.
Long Term Business Loans
Business owners consider a long-term business loan because they offer lower installment payments than short-term financing. This allows for large expansions that require a lot of capital yet have payments that the business can afford.
U.S. Small Business Administration
How to Grow Your Business in Philadelphia
View the Philadelphia Small Business Resource Guide for information and assistance in growing your local business, exploring funding options, and contracting.
U.S. (SBA) U.S. Small Business Administration
Philadelphia District Office
Common Uses of Proceeds from Business Financing
- Access to Working capital
- Equipment Financing
- Inventory management
- Business expansion
- Business development
- Cash flow management
- Emergency funds
- Advertising and marketing expenses
- Employee hiring and training
- Economic development initiatives
- Real estate acquisition
- Any other legitimate business purpose or use
Additional Resources and Information
City of Philadelphia Department of Commerce- The Philadelphia, PA Department of Commerce provides access to financial support and business development for Philadelphia small businesses. Small Business owners can get funding and other small business loans to start, improve or provide working capital for their businesses. Philadelphia financial aid, loans and grants for small businesses in Philadelphia.
City of Philadelphia Department of Commerce COVID-19 Small Business Relief Fund- Providing some small businesses impacted by the COVID-19 pandemic with immediate relief through a mix of grants and loans.
City of Philadelphia Business Services KIVA Small Business Loans- The Department of Commerce is partnering with Kiva to bring this innovative funding to small businesses in Philadelphia. For more information Visit www.borrow.kiva.org/borrow or email Jonathan.Snyder@phila.gov for more information.
Find loans through the Philadelphia Business Lending Network
Philadelphia’s Public-Private Economic Development Corporation (PIDC) Philadelphia’s public-private economic development corporation. PIDC spurs investments that create jobs, revitalize neighborhoods, and drive growth to every corner of Philadelphia. PIDC is a non-profit founded by the City of Philadelphia and the Greater Philadelphia Chamber of Commerce in 1958.
Advice and Tips Philadelphia Area Small Business Loans
When looking for financing for your business, small business owners should always begin the process with what is the purpose and use of the funds you are trying to acquire for your business. Do you know the obstacles that exist when getting approved? (Credit Issues, Bank Statement cash flow issues, time in business, financial statement issues).
Business financing is significantly different than consumer financing. Underwriting for business funding is much more risk-averse than consumer lending, so you need to take your time in looking through all the options that are available by lenders.
AdvancePoint Capital has been very successful in helping small business owners search for business financing solutions easily and painlessly without wasting time or, more importantly, your hard-earned money. AdvancePoint Capital has a great marketplace of loan options with many different product offerings, providing flexibility.
As we always say at AdvancePoint Capital, compare, shop, and you will always save!
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.