Small Business and Business Software

Best Small Business Loans 2015

Best Small Business Loans 2015 – This year’s list of America’s Most Promising Companies has a host of new faces, thanks to nearly 100 more submissions than we received in 2014. The sudden influx has given us a lot to sort out, but if there’s one thing we’ve learned walking through the ranks it’s that each of these firms is doing something right and, in the end, everyone wins.

Carvana (our #5) only launched in 2012, but the growth for the Atlanta, Georgia-based car sales platform has been profound. After raising about $5 million in 2013, the company generated $45 million the following year. Go public with services like financing and delivery straight to your door on purchased vehicles (plus a healthy dose of financing).

Best Small Business Loans 2015

Best Small Business Loans 2015

RocketDrop is another new company on our list, coming in at number 10. The company makes a fortune shipping and distributing consumer electronics in the Far East and across Asia, Eastern and Western Europe, the Middle East and Latin America. Founders Kamal Haddad, Henry Jamidjian and Jason Haddad ended 2014 with over $187 million in generated revenue – up nearly 158%.

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A familiar face from last year is Suja Juice, who takes second place this year. Founders Jeff Church, James Brennan, Annie Lawless and Eric Eatans brought in $42 million last year. On our 2014 list, the San Diego juice maker came in at No. 3. This year, Team Suja was so close to the top spot, but Instacart stopped the company from reaching the promised land. Instacart is all over the place these days, having just grabbed a massive round of capital at a whopping $2+ billion valuation after growing 10x annually for the past two years.

The companies on the list are all private and generate less than $300 million a year. Income growth plays a big role in choosing America’s Most Promising rankings, but it’s not all we consider. We pay attention to growth rates, headcount growth, how long companies have been doing what they do, operating margins, capital raised, product ideas, management and other factors. Putting one company over another is never easy, but one thing you can be sure of is that each firm is targeting an IPO, a possible acquisition by a much larger player, or simply to reach higher profits. Known for being the eighth largest economy in the world, California is next on our list of the best states for small business lending. California is home to famous American personalities like Richard Nixon, Julia Child, Joe DiMaggio and more. The state is also known for Hollywood, the Golden Bridge, beautiful beaches and beautiful mountains. It has the distinction of hosting the maximum number of schools and universities among all the states in the country. These 700 educational institutions produce some of the best talent and developed skills that go on to either join existing corporations or start their own businesses and professional practices.

As reported by the US Small Business Administration (SBA) Office of Advocacy, 99.2% or 3.7 million of the total commerce in California consists of small companies and start-ups. These enterprises employ close to half or 49.6% of the workforce in the country. In other words, 6.7 million work in this sector alone. As more and more people start their own business ventures, their activities give a big boost to the financial sphere as well. In 2014, California lenders made $11.7 billion in loans, according to statistics compiled by the FFIEC. Entrepreneurs received 836,919 loans with deductibles under $100,000.

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There are many industries where small businesses have made their mark in California. Industries such as professional, scientific and technical services, health care and social assistance, retail and trade, construction, business services, lodging, restaurants and food services are where new businesses make a large contribution. NEW YORK, September. 1, 2017 // –In 2007, OnDeck’s (NYSE: ONDK) first online small business loans in the United States created a new breed of commercial lender that believed the Internet could revolutionize the way small business owners access capital. Today, OnDeck celebrates a decade of innovation on behalf of entrepreneurs as it has emerged as the nation’s largest online lender for small businesses. To date, OnDeck has provided over $7 billion in capital to more than 70,000 clients in 700 different industries across the United States, Canada and Australia.

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“OnDeck began providing online small business lending ten years ago with a customer-first philosophy and a relentless commitment to providing online capital with speed, efficiency and high-quality service to America’s small business owners,” said Noah Breslow, CEO of OnDeck and the company’s first employee. “This is still a hallmark of our business today as we celebrate a decade of innovation on behalf of small business owners, the true lifeblood of our economy.”

OnDeck made its first loan in August 2007. The company’s innovative, technology- and data-driven platform, OnDeck Score®, has increased the flow of capital to the high street and expanded growth opportunities for small businesses. An Analysis Group report commissioned by OnDeck in 2015 analyzed the economic impact of OnDeck’s first $3 billion in small business loans. The report estimated that these loans spurred $11 billion in business activity and created 74,000 jobs nationwide. Flash forward to 2017, and the company has now provided small businesses with more than $7 billion in capital. In the retail industry alone, OnDeck has lent more than $1 billion online.

One such small business client of OnDeck is Waterfront Wines and Spirits, a Brooklyn-based boutique retailer specializing in small-batch wines and spirits. Owner Ben Boen and his partners initially approached their local bank but were turned down for a loan because the business was deemed “too young”. They approached OnDeck and were quickly approved and received capital for Waterfront Wine and Spirits to expand their product selection to meet stronger than expected customer demand. Boen appreciates the speed of the application process and how quickly he can access his OnDeck funds once approved.

Best Small Business Loans 2015

“I’ve had the same sales rep at OnDeck for a few years now, and at this point we exchange a few quick emails and the process is done,” says Boen. “That’s one of the things that keeps me coming back.” The customer service, speed of capital and personal focus have always been outstanding.”

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OnDeck is leading the way in revolutionizing the way FinTech companies and banks collaborate to leverage technology and learning to drive superior customer experiences for small businesses. OnDeck and JPMorgan Chase recently announced a landmark new agreement extending their collaboration on Chase’s digital small business lending solution, Chase Business Quick Capital®, for up to 4 years. The multi-year agreement allows Chase to develop and deliver enhanced digital functionality as it provides lending solutions to its small business banking customers.

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About OnDeck OnDeck (NYSE: ONDK) is a leader in online lending for small businesses. Since 2007, the company has fueled Main Street’s growth through advanced lending technology and an ongoing commitment to customer service. OnDeck’s commercial credit scoring system – OnDeck Score® – uses advanced analytics, enabling OnDeck to make real-time lending decisions and distribute capital to small businesses in as little as 24 hours. OnDeck offers business owners a complete financing solution, including the widest range of term loans and lines of credit in the online lending industry. To date, the company has distributed over $7 billion to more than 70,000 clients in 700 different industries across the United States, Canada and Australia. OnDeck has an A+ rating with the Better Business Bureau and operates the educational small business financing website For more information, visit Applying for a small business loan can seem like a daunting task. You may not know where to start or what steps to take. Getting a loan is often necessary, however, to take your business to the next level – which is vital to retaining more customers and increasing your return on investment.

Carefully researching how to get a small business loan will make the process easier and provide you with the best results.

The Cumberland Area Economic Development Corporation (CAEDC) is here to help small businesses located or relocating to Cumberland County Pennsylvania.

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Lenders want to see a complete schedule, expressing more than a simple idea. Whether you’re getting your feet off the ground or expanding rapidly, reviewing your plan gets the process off to a good start. It can provide the borrower and lender with a thorough understanding of future business needs and support to drive growth.

If you need help writing your business plan, contact the Shippensburg Small Business Development Center for free assistance.

Make a budget for how you plan to use the loan money. A budget allows your lender to see your vision for the big picture and the details. The budget should include project costs such as equipment, renovations, procurement and resources that will finance these projects.

Best Small Business Loans 2015

Determining the exact amount of money you need is a

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