For many small business owners, the search for funding feels like an endless maze with no clear exit. You spend hours on applications, only to face rejection from traditional banks or offers from online lenders with terms that would make a loan shark blush. This frustrating cycle leaves many entrepreneurs feeling stuck, unable to grow their businesses without the capital they need.
But what if there was a better way? A way to cut through the noise and connect directly with lenders who actually want to help your business succeed?
That’s exactly what California Small Business Loan Match is doing for entrepreneurs across the state.
The Small Business Funding Gap
Before diving into the solution, let’s understand the problem. Traditional banks reject approximately 80% of small business loan applications. This funding gap is even wider for underserved entrepreneurs, including women, minorities, veterans, and those in low-income communities.
When faced with rejection from banks, many business owners turn to online lenders or merchant cash advances (MCAs). While these options offer quick access to capital, they often come with sky-high interest rates (sometimes 50%+ APR) and aggressive repayment terms that can severely damage a business’s cash flow.
This leaves countless promising businesses caught in a painful dilemma: struggle to grow without capital, or accept predatory terms that might sink them entirely.
Enter CA Loan Match: A Better Way to Find Funding
CA Small Business Loan Match is a free resource created by IBank, California’s Infrastructure and Economic Development Bank. As part of the Governor’s Office of Business and Economic Development, IBank has been promoting economic growth and job creation since 1994.
The program serves as a bridge between small businesses and responsible lenders, many of which are Community Development Financial Institutions (CDFIs) that specialize in helping businesses that traditional banks often overlook.
Here’s how it works:
- Simple Questionnaire: Business owners complete a short questionnaire about their business and funding needs (no credit check required).
- Smart Matching: Based on eligibility factors, CA Loan Match connects entrepreneurs with pre-vetted lenders that fit their specific situation.
- Lender Selection: Business owners review their matches, select their preferred lender, and submit their contact information.
- Direct Connection: Within three business days, the selected lender reaches out to begin the formal loan process
Ready to find a lender you can trust? It takes just minutes to get matched. Find funding now!