Small businesses are on the rise in Las Vegas. Low overheads, limited taxes and a healthy startup environment are all strong positives for smaller companies in Las Vegas. Whether you’re focused on tourism, service, biotechnology or manufacturing, you know you picked a great spot to grow your business. However, a lack of easily available funding for small businesses in and around the city can hamper growth efforts. That’s where First Down Funding is ready to step in and help small businesses throughout Las Vegas.
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.
Looking to finance your business expenses in Nevada?
Funding Provided To Small Businesses For Various Purposes By First Down Funding.
Nevada ranks in the lower half among all states when they are compared according to the entrepreneurship environment. There are about 26 small business funding for every a hundred thousand people in the state. This is not a small number, but it is not a large one either considering there are more than 50 in some states. This is a major hindrance to the entrepreneurial establishment in the state because the likelihood of getting funding is little. It is correct to say that most businesses require a lot of capital to get up and to operate although not all businesses need to be started with funding. This is an improvement because the growth of SBA funding per a hundred thousand people for the three years up to 2015 was 55%. This was one of the highest growth margins in the country. It could mean that the number of funding available would continue to increase. Some of the largest technology companies have set up shop in Nevada including Zappos and Tesla.
Apply Online and find out your financing options
Las Vegas is the most famous city in Nevada. If you want to enter the hospitality, gaming, or retail industry, this is the best place to go. Las Vegas is also an extremely affordable place to live. First Down Funding is one of the top funders in the area.
Henderson is another large city in Nevada that also has an established gaming industry. This is another entertainment hotspot in the Nevada region. Henderson also plays home to some financial services companies which has led to a diversification of the economy. If you are thinking to start a business in Henderson you should consider First Down Funding.
Reno is another entertainment capital in the state of Nevada. There is no shortage of resorts and casinos in the region. If you want to take advantage of the tourism industry without breaking the bank, Reno is a great spot to head to – it’s an extremely affordable city to live in. First Down Funding is one of the top funders in Reno.
Sparks is often considered an extension of Reno – it’s located just outside of the city. If you are thinking to start a business in Sparks you should consider First Down Funding.
Carson City is a hotspot for healthcare and entertainment. There is also a large retail sector in the city. First Down Funding is one of the top funders in the area.
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 application is different from personal funding. If your company is older and well-established, you should have no problem taking out a 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.
The ability to pay back the funding based on collateral, financial reserves, and assets.
The borrower’s successful past performance in business (for a new business)
The borrower’s existing cash flow (for an existing business)
Here are five steps to help you qualify for a small-business funding.
Nevada relies on small businesses to support the state’s economy. The U.S. Small Business Administration classifies more than 99 percent of the companies in the state as small businesses. These companies employ more than 42 percent of the state’s population,
Las Vegas is world-famous for playing home to the gambling capital of the world – Las Vegas. Tens of millions of tourists flock to the state every year to take advantage of the gambling laws and high-end casinos. The area is also home to some of the least-strict small business laws in the country.
Banks just aren’t for everyone, and they aren’t the only players in town anymore. Alternative funders are known for their speed and access to funding, particularly for borrowers who need funds fast or have less-than-desirable credit scores.
First Down Funding is one of the top alternative funders in Las Vegas
Most businesses — even the largest corporations in the world — borrow money to finance their operations. It’s pretty much just how business works. But your business can enjoy significant benefits when you partner with First Down Funding for your borrowing needs. We’re here to help you turn one. So we can typically offer you funding with lower fees and rates and flexible terms, too.
This is a “traditional” funding, where your organization receives a lump sum in exchange for monthly payments. This funding is best suited for established businesses and non-profits, but newer organizations may be able to qualify as well.
Business funding typically have a term of one to five years, and the interest rate can vary. These funding can cover a range of business needs, including expansion or purchasing equipment. Some business funding may have a pre-payment penalty, so keep that in mind as you review options.
A business line of credit provides immediate funding for your organization. Your organization can access the credit line when you need funding, and then repay what you borrow. For example, if your organization is approved for a line of credit of $150,000, and your organization needs $50,000, you can withdraw the $50,000 and then repay the $50,000 with interest. If another expense comes up, your organization can borrow again, up to the credit limit.