Bel Air North is a census-designated place in Harford County, Maryland, in the United States. It is immediately north of the incorporated town of Bel Air. As of the 2010 census, the CDP population was 30,568, up from 25,798 at the 2000 census.
Bel Air‘s identity has gone through several incarnations since 1780. Aquilla Scott, who had inherited land known as “Scott’s Improvement Enlarged,” planned the town on a portion that he called “Scott’s Old Fields.” Four years later, the town had expanded as local politicians, merchants, and innkeepers purchased lots from Scott, and the county commissioners decided to change its name to the more appealing “Belle Aire.” In his deeds, Scott dropped one letter, renaming the town, “Bell Aire.” Around 1798, court records dropped two more letters, and “Bel Air” was born.
Small business owners usually struggle with expansion plans against meager cash flows. That’s why First Down Funding is a critical part of small business development in Bel Air North. Get Pre-approved in minutes for small business funding in Bel Air North. Apply online or contact us so we can expedite your request. We are your Bel Air North Business Funding source. Apply today for business funding in Bel Air North.
Easy access from Baltimore and Wilmington
Bel Air North is a community in Maryland’s Harford County, and one of its prime draws is its convenient location on Route 1. And with Interstate 95 running through adjacent Bel Air South, this means easy access and lots of traffic from both Baltimore to the south and Wilmington, Delaware to the north, which is a boon for small businesses.
Bel Air North’s neighbors include Fallston, Jarrettsville, Forest Hill, Fairview, and Benson. Bel Air North is part of the tier of communities that serve as a gateway between the Baltimore suburbs and greenspace beyond. It’s a popular residential area with many small business opportunities. Bel Air North’s business community includes everything from restaurants to milliners to fitness facilities.
It’s not a surprise, therefore, that many businesses are eager to capitalize on the location and potential of Bel Air North. It’s the perfect place to launch a business or expand a small business currently headquartered in Baltimore.
However, some small business owners have come up against challenges when trying to obtain financing for their ventures in Bel Air North.
We Help Small Businesses With Working Capital Loans For Short & Long Term Projects in Bel Air North
Hundreds of small businesses have discovered that it’s not easy to find traditional funding for their enterprises in Bel Air North. There are a variety of reasons for this gridlock:
You may find your small business out in the cold without collateral, a high credit score, cash reserves, investors, high income, and an intricate business plan. But how do you escape this chicken-and-egg trap? You need to be well established to have all those requirements, but how do you get well established without financing? Have you experienced these pain points below?
With bad credit as a business owner, you may not satisfy the requirement for a business loan with conventional lenders. You have to demonstrate your creditworthiness, just like when applying for a mortgage or car loan. The minimum required is usually a credit score of 700.
But many people have bad credit for a host of reasons unrelated to their creditworthiness now. You can be a responsible business owner and have poor credit because of:
Every credit bureau calculates your score differently. And you may also have different scores depending on whether you’re applying for a business loan, a mortgage, auto financing, etc. It gets very confusing.
Both people who recently arrived in the US and young people often have poor or no credit. They simply haven’t had the chance to establish a credit profile yet.
Cash flow limitations are another hurdle to clear with conventional business lenders. Maybe your net income is limited by your debt right now. Banks don’t like to see this, even if you are being responsible about paying off old loans or credit cards.
Your debt-to-income ratio may also be off if your business hasn’t had a chance to establish itself yet, and your revenue hasn’t hit its projected peak. Or, if your business suffered restrictions due to COVID-19, your income could have suffered as well.
You want to tune up your business plan and try to improve your cash flow, but how can you do that if limited cash flow is keeping you from getting a loan?
If you’re missing collateral, you may not be able to get a secured business loan. What’s collateral? It’s something of high value that you agree to give the lender in the event you ever default on your loan. Normally, this is business property or real estate. Many newly formed or very small businesses don’t have sufficient collateral for secured loans, however. And you never want to offer your own residence as collateral as this is a financially dangerous move.
Not having capital investors with a stake in your company can turn off conventional lenders, too. They like to see small businesses funded by sources other than traditional bank loans. Capital investment can come from just about anywhere – a friend, a family member, or a company whose business it is to invest in other businesses. It’s rough finding capital investors these days, though, as the economic environment has become more competitive.
Another common problem with conventional lenders is filling out too many loan applications at one time. While this sounds super efficient and like it would boost your chances of getting financing, mainstream lenders don’t like to see this. They view it as a warning sign that your business is desperate for funding.
Banks can see where else you have applied because they are looking at your credit report. Every time you apply for a conventional loan, the prospective lender does a hard credit pull. Not only does this show up on your report, but it dings your credit score at the same time. Not very fair, is it?
If you are a startup company younger than around two years old, many traditional lenders don’t look on you favorably. They tend to think startups are risky and should be funded by private ventures, not bank loans. But this is one more catch-22 with conventional lenders. You need financing to get out of startup mode, but you can’t get financing until you’re more established.
When you’re the owner of a small business, you wind up doing a lot of jobs rolled into one. You manage operations, do the hiring, and often pitch in at the ground level to get things done. The last thing you have time for is to be the CFO, too.
But that’s what conventional lenders require. They need you to fill out mountains of documentation, like bank records, tax forms, business plans, and revenue statements. All of this takes time – time you don’t have when you’re working long days and juggling a personal life, too.
Fortunately, there are solutions to the funding bottleneck that prevents small businesses from getting the funding they need for their Bel Air North enterprises. First Down Funding can give you a real advantage and let you break through barriers with dozens of loan products for nearly every industry:
We love helping small businesses get more accessible funding because we recognize that these are the drivers of the economy in the United States.
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Small Business Funding with minimal paperwork and higher funding amounts
Have you already been encountering obstacles that stand in the way of your dreams for your business? Are you ready to let go of the stress and aggravation that comes with traditional lenders? It’s time to try First Down Funding for small business financing, from bridge loans to equipment funding. We are eager to learn more about your small business plans for Bel Air North.
Partnering with First Down Funding offers a wealth of benefits:
You won’t be tied to standard lending metrics or collateral with First Down Funding’s financing solutions. Rather, you’ll be able to take advantage of our innovative methods that harness your future projects and income to develop funding and terms that let you take off and grow.
We pride ourselves on basing every customer interaction on our six values: passion, innovation, respect, integrity, support, and results. We do the bulk of our loans in our home state of Maryland. However, you’ll also find satisfied First Down Funding clients in all 50 states and in Washington, D.C, too.
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
If you’re like a lot of small businesses, you feel like you never quite get off the ground. You’re always on the hamster wheel, with your dreams just out of reach. Our goal is to get you out of merely surviving and turn that into thriving, with business financing solutions that provide real answers to common small business problems.
Wait until you see how easy the First Down Funding application is! We don’t want to take up hours of your time because you have a business to manage, and that’s where your time should be focused. Use our simple online prequalification and be confident we’ll only use a soft credit pull, which is much lighter on your credit score.
We don’t think you should have to wait 30 to 90 days to hear about a loan application and get funded. That’s why we strive to make decisions about all our loans in 24 hours. You may even hear the same day. With funding on approved loans between 24 and 72 hours later, you won’t miss any hot business opportunities that demand an answer today.
First Down Funding values every small business for the unique enterprise that they are. We replace cookie-cutter funding with packages tailor-made for each client. You will love our menu of lending terms, credit lines, and financing across multiple industries.
There are times when a short-term loan is better than a standard one for your needs. We have short-term financing options with borrowing windows between three and 18 months. Use this choice when you need quick cash for a shorter period of time or if you have poor credit – the minimum required score is just 525.
When you need funds to buy business or heavy equipment, check out the options at First Down Funding. We have financing packages geared specifically for equipment purchases. You can get funded for up to 100 percent of your equipment’s value and pay back your loan over the expected life of the equipment.
There are alternatives to a regular loan that are ideal if you don’t know how much money you need. A business line of credit gives you access to funds to use whenever you need, but you only pay interest on the money you’re using. It gives many small businesses a safety net for extra expenses or emergencies.
Our bridge funding packages are perfect for when you need capital in between funding by investors or when you know your revenue will be picking up soon. You don’t have to stop work just because you’re short on funds, so you stay on schedule with your business plan.
We have lots of customers whose credit is not where it should be, sometimes due to issues beyond their control. With our financing for bad credit options, you can still turn your business vision into a reality and get back on track with your credit at the same time.
Our COVID-19 Resource Center was created to help the small business community through the challenging times created by the pandemic. Head here to get essential news and tips to keep your business healthy, safe, and resilient.
Are you ready to gain the freedom that comes with trying an exciting alternative for Bel Air North small business funding? We’re here to answer your questions at (833)-FDFUNDING. Or use our easy online form to start an application today.
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