There are almost 350,000 small businesses in the state of Connecticut. Connecticut is one of the most progressive states in the country for entrepreneurship. Roughly one in every other company owner established in Connecticut will need to take out a business funding at some point in their career. Working capital financing is necessary when a company needs a certain level of financial backing to support their services.
Connecticut business owners require small business funding because they need a large lump sum of cash to either keep their company going or to expand their business to increase client flow.
One of the brightest spots for Connecticut‘s small business owners is the incredibly high per capita personal income (PCPI) of the Nutmeg State’s denizens. In fact, the Bureau of Economic Analysis reported that Connecticut’s PCPI for 2015 was 140 percent of the national average, at nearly $67,000. This is a boon to small business owners in areas where wealth is highly concentrated, as there is more disposable income to go around despite the state’s elevated cost of living.
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Bridgeport was traditionally an industrial powerhouse. But the decline in American manufacturing led Bridgeport to start diversifying its economy. The city now largely consists of different services industries. As the largest city in the state of Connecticut, much of the industry in Bridgeport services the surrounding regions. If you’re thinking of starting a business in Bridgeport, you should consider First Down Funding.
New Haven is the second largest city in the state of Connecticut. Like Bridgeport, New Haven also has a large services sector which takes up the majority of the local economy. Other common industries include transportation and mining. First Down Funding is one of the top funders in the area.
Hartford might not be the largest city Connecticut, but it does happen to be the capital of the state. The city traces its origins back to colonial times – it’s one of the oldest urban areas in the region. Hartford has a long tradition in the insurance industry – plenty of insurance companies have large offices in the area, and have done so for decades. Much of the local economy is also driven by the government jobs in the area. First Down Funding is one of the top funders in Hartford
Stamford is one of the most scenic area in the state. It also happens to be a business epicenter. The area is well-known for having several high-profile businesses headquartered in the area.
Siena Funding is highly reputable funder that provides finance to businesses in the city and surrounding regions. First Down Funding is one of the top funders in the area.
Waterbury is a small city in Connecticut that’s only about an hour drive from New York City. The region benefits from its proximity to the nation’s largest city.
Waterbury Financial LLC is a commercial funder that specializes in providing finance to small business owners. They’re located right in the middle of town. If you’re thinking of starting a business in Waterbury, You should consider First Down Funding.
The best time for your company to apply for funding is when you need a large lump sum of cash for business expenditures. Some use their funding to improve marketing and advertising to bring in new clients. Others use their funding-obtained money to expand on their shops and properties, improving services for customers. When taking out small business funding, you need a clear goal in mind so that the money benefits you. Many entrepreneurs apply for funding, receive the money and then spend it on frivolous things that aren’t advantageous to their companies.
We Help Small Businesses With Working Capital Funding For Short & Long Term Projects
First Down Funding specializes in structuring and approving cash advances for small to medium-sized business owners in Connecticut just like you. We have a large selection of merchant services that are designed to immediately help with all of your business’ needs. Our continuous growth allows us to give personal attention to each client’s specific needs and offer creative solutions. First Down Funding provides alternative business funding as well as the advice you need to keep your business thriving.
Small business funding application is different from personal funding. If your company is older and well-established, you should have no problem getting 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.
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.
A business plan is one of the most important documents you’ll prepare when starting a small business and applying for financing. Although online funders don’t usually request a business plan, this is a must-do if you’re applying for financing at a nonprofit, bank, or credit union. It’s also a useful exercise to see if you have realistic expectations from your business.
The business plan outlines your business concept and contains a detailed summary of your business’s product or service, target customer base, competitors, and financial projections. Funders often use the financial projections section of the business plan to assess how much funding your business is eligible to receive.
Your credit history is paramount when applying for business funding. The better your credit score is, the more funding programs you’ll be eligible for, the more financing you’ll be approved for, and the lower interest rates you’ll pay.
To keep your credit in good shape, you should regularly check your credit report, fix any errors that you spot, and make all existing funding and credit card payments on time. Sometimes, if you’re new to the country or haven’t relied on financing very much, you might have a thin credit file. If that’s the case, try getting a credit builder funding from one of the above-mentioned nonprofit funders. Just keep in mind that positive changes in your credit score can take some time, so keep tabs on your credit history well before you begin your search for financing
Whether you have a brand-new business or a more established company, revenues are very important to the funding process. A business with revenue, or at least a market-ready product, represents a serious business in the eyes of funders and is more likely to receive financing. While nonprofits do offer startup business funding, established revenue-generating businesses have more financing options.
We Help Small Businesses With Working Capital Funding For Short & Long Term Projects
Hartford is the capital city of Connecticut. It was the seat of Hartford County until Connecticut disbanded county government in 1960. The city is nicknamed the “Insurance Capital of the World”, as it hosts many insurance company headquarters and is the region’s major industry. It is the core city in the Greater Hartford area of Connecticut.
It is a major industrial and commercial centre and a port at the head of navigation on the Connecticut River, 38 miles (61 km) from Long Island Sound. Dutch traders from New Amsterdam built a fort in 1633 at the mouth of the Park River, a tributary of the Connecticut
Want to grow a business in Hartford? We’re here to help! First Down Funding is servicing small business owners in Hartford with all their capital needs. Whether it is a long term funding package or a short term cash funding, apply online or contact us so we can expedite your request. We are your Hartford Business Funding source. Apply today for a business funding in Hartford.
Connecticut small business owners can obtain funding from the local government, nonprofits, banks, credit unions, and online funders. It’s important to make sure you review your options from national, state, and local sources, and choose the best fit for your company based on your timeline, credit history, and budget. Getting a small business funding in Connecticut can seem like an intimidating process, but with the right funding partner, it can be easier than you think to take your business to the next level.