Small Business Funding in Arizona
Prepare for the Unexpected With Arizona Business Funding
Arizona business owners have been feeling incredibly optimistic and excited about the current and future business climate of the state. Over the years, the state of Arizona has experienced a stable and growing economic climate with lowering unemployment rates – all of which are largely due to the positive state of the small business sector in Arizona.
According to the Small Business Administration Small Business Profile, there were 511,828 small businesses in Arizona with 98,257 of those small businesses having employees (making 413,571 small businesses in Arizona non-employers) in 2013-2014. In total, there were over 955,194 workers employed by small businesses in the state of Arizona small business funding in Arizona.
In Arizona, starting a small business can be a successful endeavor, but business owners need to be aware of financing options to keep their companies afloat.
More often than not, small businesses need an infusion of capital to help cover significant costs. Companies may need funding for an expansion of a product, opening a new location, maintaining payroll and overhead expenses during slow seasons, or purchasing equipment or inventory over time.
As a small business owner, you probably don’t have extra cash just lying around. Your money is either being invested back into your growing company or being used to maintain it.
Business Funding in Arizona
The state of Arizona has seen continuous year after year improvement since the 2008 recession that has left many business owners still struggling to rebound from. Luckily, Arizona residents and business owners have been lucky enough to enjoy a stable business climate, as well as manageable tax rates, a stable economy, and a highly skilled labor force. The Greater Arizona area is also recognized as a state that offers minimal regulatory approaches, no corporate franchise taxes, top economic programs to support businesses, and a huge supporter of the pro-business climate. Some of the top benefits to running a business in the state of Arizona include:
Low and Manageable Tax Rates: Most business owners make business decisions, especially where to start and open up a business, by the tax rates and climate in each state. Arizona is known for low and easily manageable tax rates and conditions, which is why the state of Arizona has continued to see growth in many business sectors. The sales tax in the state of Arizona is at 5.6 percent, with the corporate income tax at 6.968 percent. Coupled with a personal income tax ranging from 2.59 to 4.54 percent, many business owners in Arizona would agree that the Arizona tax rates are relatively manageable and agreeable – although the overall tax conditions will still vary from county to county in Arizona, so many business owners do plenty of research before picking the ideal spot to create an Arizona business.
Lowering Unemployment Rates and Growing Labor Market: Year after year, the state of Arizona has continued to experience a lowering unemployment rate, which is currently around 5 percent; while this is relatively higher than some states right now, it has remained stable and consistent, and the 5 percent rate is still lower than the national average unemployment rate. However, those states that are experiencing lower unemployment rates are struggling to find qualified, skilled employees, making the labor market highly competitive. With the steady 5 percent unemployment rate, Arizona business owners still have plenty of options when it comes to hiring skilled, educated employees with a variety of talents and skill sets.
Looking For Small Business Funding in Arizona?
Apply Online and find out your financing options
Top Cities in Arizona
Phoenix is the capital and largest city in the state of Arizona. The area provides access to some of the most scenic parts of the state. The city also plays home to the state’s professional sports teams and services industries. If you are planning to start a business in Phoenix you should consider First Down Funding.
Tucson is the second largest city in the state of Arizona, it’s also home to the University of Arizona. The city’s economy is largely driven by the college campus in the area. If you’re planning on starting a business in Tucson, First Down Funding is one of the top funders in Tucson.
Mesa is often considered an extension of the city of Phoenix, but those who live there know how different it is to the capital city. Mesa plays home to most of the city’s museums, you’ll find the area has an extremely unique economy. If you are planning to start a business in Mesa you should consider First Down Funding.
Again, Chandler is another city that is often considered an extension of Phoenix. Many of the area’s residents work inside the central business district of Phoenix – it’s a great place to start a business. First Down Funding is one of the top funders in the area.
Glendale is located around 10 miles to the northwest of Phoenix. It’s one of the most recognizable cities near Phoenix – it plays home to the Arizona Cardinal’s stadium. If you are planning to start a business in Glendale you should consider First Down Funding.
Determine your need for small business funding in Arizona
There are a few variables to consider when determining the right small business funding for your company. Think about whether a long-term or short-term funding option is best for your needs. If you just need funding to fulfill a large order or take advantage of a one-time opportunity, funding with shorter terms are probably best. If you need to purchase a piece of machinery that will last 20+ years, a long term funding is more cost effective.
Here are 5 reasons why your business might need funding for your Arizona business:
To Improve Terms on a Larger Funding.
Probably the most obvious reason to consider small business funding is to invest in an expansion opportunity for your business.
Learn more about what your business qualifies for with First Down Funding.
Small Business Funding To Reactivate Your Business in Arizona
Funding Provided To Small Businesses For Various Purposes By First Down Funding.
Small Business Administration (SBA) Funding
We can give you a long list of ways SBA funding can help your business. But really, you should be the one telling us what your business needs. That’s how First Down Funding benefits you. Our experienced SBA lending team can help you take advantage of the many benefits available through the SBA funding program. Let’s have a conversation. We can’t wait to help.
Need help covering payroll?
To better understand the difference between these two types of lenders, here is a quick comparison of what each lender looks for in an applicant:
- Require a nearly immaculate credit score
- Expect you to have been in business for at least two years
- Often ask applicants to provide collateral in their contracts
- Long-term agreements
First Down Funding
- Prefer a credit score of at least 600
- An annual revenue of $150,000
- Never ask you to pledge personal assets
- Flexible terms to fit your business’ needs
How Does First Down Funding Business Funding in Arizona Work?
For business owners, acquiring the right funding is always a struggle. For owners of small businesses, this struggle can be even more severe. This is because financial institutions are often unable or unwilling to provide the funding that they need.
However, things are changing, and alternative funding providers such as First Down Funding are proud to be leading this shift. Companies looking for small business funding now have the options they need, which is good news for these businesses and good news for our country’s economy as a whole.
Apply for small business funding if your business needs cash to:
Need help covering payroll in Arizona?
We Help Small Businesses With Working Capital Funding For Short & Long Term Projects
How to Apply for Funding
Small business funding application is different from personal funding. If your company is older and well-established, you should have no problem taking out funding. You’ll need documentation of sales and expenditures associated with your company. This lets First Down Funding know if you’ll have the funds to pay back the funding.
First Down Funding application process in Arizona:
Apply online in just a few minutes
Our system evaluates your business and typically provides a decision in minutes
Sign your contract and receive money in as fast as 24 hours
We’ve designed our process to provide businesses with the funding they need safely, securely and easily:
Fast & Simple Experience: Our online application and approval processes are straightforward and highly effective. With our easy application process and fast approval rates, we make it so that you can get the funding you need, when you need it.
Focused on Working Capital: Working capital is the financing your business needs on-demand to proceed with day to day options. We make it so that you can attain these funds within 72 hours of your approval.
Service & Support: Our business financing services are personalized so that your business’s unique needs are met. We work with you personally to ensure you are supported at every turn.
Small Business Funding in Phoenix
With its broad, tree-lined avenues, Spanish-style architecture, and surrounding mountains, Phoenix bears much resemblance to Los Angeles. Like its California counterpart, Phoenix is a metropolis with not one but many centres, all at considerable distances from one another. From its historic heart to the west of Sky Harbor International Airport, the greater metropolitan area—of which Phoenix is only a small part—has grown to take in a vast expanse of land that stretches nearly from the Gila River far to the south to the tall plateaus and volcanic mountains of the north and east and out into the broad desert valley to the west. Growth is a constant in Phoenix life as thousands of new residents and millions of visitors find their way there each year.
Phoenix’s economy was once dominated by ranching and farming, but it shifted in the mid-20th century to one based on services, technology, and, more notably, tourism. Maricopa county was one of the top urban agricultural producers in the country in 1980, but farming has since steadily lost ground to urban growth; now only a small portion of the labour force is engaged in food production.
About three-fourths of the state’s manufacturing jobs are located in the Phoenix area. Light industry is predominant, especially the manufacture of electronics, transportation equipment, aerospace technology, foodstuffs, and cosmetics. The principal crops are cotton, durum wheat, fruits, and vegetables. Only a small proportion of the workforce in the private sector belongs to labour unions, which, along with tax incentives, has made Phoenix attractive to relocating corporations, many of them engaged in the manufacture of semiconductors and other electronic components. The region has thus emerged as a centre of high-technology production. A well-developed electronics infrastructure also has made Phoenix a capital of the telecommunications industry. More than half the labour force works in banking, finance, and other service activities. For the most part, however, the city’s economy still depends on tourism, especially in the winter months.
Nicknamed the “Valley of the Sun,” the Greater Phoenix area sees more sunshine than any other metro area in the country. That in and of itself is enough to entice people to lay down roots, but Arizona’s capital also features a desirable combination of a thriving job market, a relatively low cost of living and plenty of ways to enjoy the nice weather
First Down Funding and other alternative lenders offer a more flexible option for business owners in a pinch and need funding fast.
Popular Type of Funding in Arizona
If you’re looking for an SBA funding in Kansas, First Down Funding has the ability to facilitate those as well. By working closely with the Small Business Administration, our SBA funding can be approved in under a week. However, Phoenix SBA funding are just one of the fast funding types we offer.
With commercial funding being needed as quickly as possible in Phoenix, First Down Funding stands out thanks to our quick & easy funding process.
Business Line of Credit
Business lines of credit are flexible forms of financing that borrowers can use as needed. Think of them as credit cards where you only pay fees on whatever is used. Once you pay off your balance, your line of credit is replenished and you can again use however much you were approved for. Because you only pay fees for what you use, they offer a lot more flexibility than, say, term funding, which require you to start paying interest fees as soon as the funding is taken out.