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SBA 7(a) Loans in Victorville: Rates, Requirements
Victorville is a city located in the Mojave Desert in San Bernardino County, California. As of the 2010 census, the city had a population of 115,903.
Victorville is the economic and governmental center of the High Desert region of California, which contains Victorville and the cities of Hesperia and Adelanto. The High Desert region has a population of approximately 442,000 people.
The economy of Victorville is driven by a diverse mix of industries. The city is home to a large number of distribution and manufacturing warehouses for companies such as Amazon, Mattel, and Coca-Cola. The city is also home to a growing number of technology and renewable energy companies.
The city's largest employer is the Victor Valley Medical Center, which employs over 3,000 people. Other major employers in the city include the Victor Valley College, the High Desert Logistics Center, and the Southern California Logistics Airport.
Small businesses are a vital part of the Victorville economy, accounting for over 60% of all businesses in the city. The most popular industries for small businesses in Victorville are retail trade, health care, and construction.
There are a number of programs and resources available to small businesses in Victorville. The City of Victorville offers a Small Business Assistance Program, which provides financial assistance to small businesses for a variety of purposes, including start-up costs, expansion, and job creation. The Victorville Chamber of Commerce also offers a number of programs and resources for small businesses, including networking events, business counseling, and educational seminars.
Comparing SBA Loan Types in Victorville
Our Experts
When it comes to small business loans, the SBA 7(a), SBA 504, and SBA Express programs are some of the best options available. Boasting favorable terms and low rates, these financing vehicles can provide up to $5 million for your business plans.
SBA 7(a) Loans specifically connects small business owners with lenders across the country who are prepared to offer the very best terms to support their businesses. If you're looking to buy commercial real estate or equipment, or if you need access to repair capital, SBA 7(a) loans should definitely be one of your top options.
Our experienced team will provide you with the very best terms from our network of lenders to ensure your business has what it needs to succeed. We offer this service completely free of charge.
Looking for more information about Victorville? Read on below. Otherwise, click the button below, and we'll get right back to you with your free SBA 7(a) loan quote.
Small Business Loans Available in Victorville
There are several options for small business loans in Victorville. The Small Business Administration (SBA) offers several loan programs, including the 7a, 504, and Express programs, that can be used for a variety of purposes, such as working capital, equipment, and real estate. SBA loans are backed by the government and usually have lower interest rates and longer repayment terms than other types of loans.
1. SBA 7(a) Loans
The SBA 7(a) loan program is the Small Business Administration's most popular loan program. It can be used for a variety of different purposes, from working capital to equipment and even real estate. An SBA 7(a) loan's interest rate is generally lower than interest rates on conventional loans. Loan terms are also longer than most conventional loans, which keeps monthly debt service costs low. SBA 7(a) loans are capped at $5 million.
2. SBA 504 Loans
The SBA 504 program is aimed at businesses looking to acquire heavy equipment or fixed assets or for purchasing or developing real estate. Loan terms are typically up to 10 years for equipment purchases and 25 years for real estate, and interest rates are generally lower than most conventional financing options.
3. SBA Express Loans
SBA's Express Loan program are designed for speed: While loans max out at $500,000, the application turnaround time is just a few days. This convenience does not come for free, with interest rates generally higher — and repayment schedules typically shorter — than other SBA loan types, which increases the cost of debt service.
If you are interested in applying for a small business loan in Victorville, we’ll match you with the best lender: Click here for a free quote.
Getting the Right Insurance for Your Property
If you own the property you operate out of, you'll need adequate insurance in place as part of the SBA financing process. Unfortunately, the cost of property insurance has shot up in recent years — and not just in the disaster-prone areas that may immediately come to mind.
Janover Insurance Group is happy to provide you with a free, zero-obligation quote on insuring the commercial real estate your business owns and occupies. Simply click here to get started.