With over 1.6 million residents, the city of Phoenix, Arizona, is the fifth most populous city and largest state capital by population in the United States. Arizona borders eight other states, but Phoenix is the anchor of the area. The area is also known as the Valley of the Sun, which is part of the greater Salt River Valley. Currently, the area’s top industries are real estate, finance, insurance, manufacturing, retail trade, healthcare, and government (including federal, state, and local governments).
As small businesses in Phoenix, continues to grow to meet public demand, the demand for business lending is also increasing dramatically. However, banks and credit unions have strict guidelines, making it challenging to obtain a business loan from a bank to address financial needs.
To help Phoenix business owners find alternatives, AdvancePoint's lending marketplace offers many financing options that banks cannot provide. Speak with our lending experts to learn more about our loan programs and network of online lenders. Don't let strict bank guidelines stop you from securing a small business loan in Phoenix.
We also offer free consultations to any Phoenix business, so you can learn more about our loans, the loan application process and how they can benefit your business.
Secure A Small Business Loan in Phoenix, AZ
Small business loans can be a great way to get the funding you need to start or grow your business. However, it can be difficult to get approved for a business loan. The best way to increase your chances of getting approved is to work with a lending partner with options and alternatives when it comes to securing business loans in Phoenix, AZ. Access our large network of lenders that we have tailored for Arizona companies.
At AdvancePoint Capital, our team of lending experts has a deep understanding of the Phoenix market and our financing options. We know which lenders are more likely to approve your loan and we can match you with the best lender for your needs. We also offer free consultations, so you can learn more about our loans and how they can benefit your business. To get started, contact us today to schedule a free consultation.
9 Best Loans for Phoenix Small Businesses (April 2024)
Long-Term Small Business Loans
Larger businesses that are looking for funding for a major business expansion turn to long term business loans. Due to the large amount of money that will be needed for expansion, the repayment will need to be extended over a long period of time to have affordable payments under current revenue.
Business Line of Credit
A line of credit allows businesses to access money by a draw at will off the line, up to a credit limit that is determined at approval. Business lines are revolving lines and interest is applied to the outstanding balance, making short term draws and repayment attractive as interest is only paid during the time outstanding. Great working capital solution.
Small Business Credit Cards
Credit cards are always a tool in the tool box for business owners. Great for quick purchases and to handle some monthly business expenses.
Short-Term Small Business Loans
Short term small business financing comes into play when the business owner has some credit issues or perhaps some weaknesses in financial documentation that prevent them from getting traditional loans. Short term loans have lower credit standards and document requirements making approval more likely. Funds are available same day in some cases.
Business Cash Advance
Business cash advance are not loans but advances of future sales of the business. A great option for those turndown for business loans and/or lines of credit. This product allows for all credit from excellent to poor credit and documents required are typically limited to a 1 page application and 3 months bank statements to get an approval.
Merchant Cash Advance
A merchant cash advance, is not a loan but an advance of future sales receivables. This advance is repaid by the funder taking a set percentage of future credit card processing until the advance is paid back in full. Due to this repayment process, repayment is flexible and attached to future sales unlike fixed payments.
Small Business Administration (SBA) Loans
An SBA loan is administered by the Small Business Administration which sets the guidelines and requirements for SBA approved lenders. SBA provides those approved lenders with certain loan guarantees so they will take on the risk of SBA financing which have low interest rates and favorable terms. SBA Loan programs include the popular SBA 7(a) for working capital, and the SBA Express loan up to $50,000. SBA Express loans are typically originated by banks due to small loan size. The application process is detailed and requires a significant amount of documentation to obtain financing. SBA loans are worth the effort,. Let us help you find the right SBA lender.
Invoice Financing
For businesses that invoice there clients regularly, invoice factoring is a popular option which allows businesses to get an advance on invoices that are outstanding but within the terms of repayment of 15,30.45 or 60 days. Great solution to improve short term cash flow.
Equipment Financing for
Small Business
When looking to purchase expensive new equipment, equipment loans or leases are a great option to spread those costs over years instead of months, with affordable monthly payments.
U.S. Small Business Administration
How to Grow Your Business in Arizona
View the Arizona 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
Arizona District Office
Why Do Phoenix Small Business Owners Need Financing?
The most common reasons small business owners use business financing:
- Working capital loans
- Equipment purchase and repair
- Inventory needs for funds
- Finance business plan expansion (capital for growth)
- Office renovation
- Cash workflow shortages
- Consolidate business debt
- Website development and website maintenance for online customer services
- Emergency needs for funds
- Advertising and marketing to acquire customers
- Jobs creation (employees), employee training resources, and expenses
Additional Business Resources, Financial Initiatives and Grants in Arizona
Why AdvancePoint Capital?
- Business Proficiency - With our extensive background, we have supplied financial solutions to businesses in Phoenix for a significant period.
- Businesses Rely on Us - Explore the outstanding reviews and feedback shared by small business owners in Phoenix who have placed their trust in us.
- Committed Loan Experts - Our skilled specialists in business funding are dedicated to assisting you in discovering the ideal loan programs.
- Free Quotes, No Obligation - Join us without any commitment as we provide complimentary quotes with no upfront expenses.
- Diverse Range of Business Loans - We present a variety of loan products to address the diverse requirements of small businesses located in Phoenix.
Apply for Small Business Loans in Phoenix Today!
Acquiring a financing solution or seeking financial advice in Phoenix can often be a challenging task. However, at AdvancePoint Capital, we make the process of applying for a business loan quick and straightforward with our user-friendly application process. Simply complete our online form and application page, and within a few hours, you'll be on your way to securing a business loan in Phoenix.
Get Started Today
AdvancePoint Capital makes the loan application process a simple, straightforward experience.
