Lending for small businesses has never been so high in Georgia before. Yet, some are still having problems accessing credit. How can you get a business cash advance or another type of business funding easily and at the best possible rates? Just read this article and you’ll know.
Small Businesses in Georgia
There’re about 1 million small businesses operating in Georgia. Small businesses have been growing steadily in the state since the end of the recession. Small business owners represented 88.8% of Georgia exporters and accounted for 30.1% of the state’s exports, according to a study in the field.
As Drew Tonsmeire of the UGA Small Business Development Center at Kennesaw State University says, the lending environment that exists today is much better than it was 10 years ago. Based on a recent report by the Georgia Small Business Administration, the amount of money loaned in Georgia in 2017 made up $1.41 billion.
If you’re serious about running and growing your small business, you’ll need to apply for a small business loan. The important thing is to find a reputable business funding provider or alternative online lender to work with. With a respectable financing provider, you can get a business cash advance or any other type of funding without challenges and at the lowest possible rates.
Small Business Lending in Georgia
If you’re starting a new business in Georgia, you must register your company with all relevant state agencies and government departments. Also, you must get proper business licenses and permits. Besides, you must follow the state’s regulations.
In Georgia, apart from banks, you can find different other sources of funding. Reliable online lenders are among them. Let’s look at some details concerning the small business lending in Georgia.
Women still face more disadvantages associated with securing business loans. By the way, nationwide, only 27% of women having applied for funding in the 1st quarter of 2018 got approved, compared to the overall success rate of 42.6%, as a recent study showed.
Access to working capital is too important for small businesses. It helps them launch new projects, expand operations, as well as hire more people, as Dean Bird, Atlanta small business banker manager at Bank of America notes. Ultimately, business funding is one of the main ingredients in turning ideas into action.
Author Bio: As an account executive, Michael Hollis has funded millions by using alternative funding solutions and helping them to get a business cash advance. His experience and extensive knowledge of the industry has become a true asset for First American Merchant. …Read more