Commercial Financing: Everything you need to know about SB 1235 in California

February 1, 2023 By: Zeeshan Hassan0 comments

Commercial Financing: Everything You Need to Know About SB 1235 in California

Small business owners in California now have a new tool for securing financing, thanks to SB 1235, a recently enacted state law aimed at promoting economic growth and job creation. The law provides new funding options for small businesses and enables them to secure the financing they need to grow and thrive. Here’s everything you need to know about SB 1235 and how it can benefit California’s small businesses.

What is SB 1235?

SB 1235 is a California state law that establishes a new program for providing financing to small businesses. The program provides access to low-interest loans and other forms of financing to eligible small businesses in the state. The goal of SB 1235 is to help small businesses overcome the challenges they face in securing financing and to support the growth and success of California’s small business community.

Who is eligible for financing under SB 1235?

To be eligible for financing under SB 1235, a small business must be based in California, have 50 or fewer employees, and have a demonstrated need for financing. The business must also be in good standing and meet other criteria as outlined in the law.

What types of financing are available under SB 1235?

SB 1235 provides access to a variety of financing options, including low-interest loans, lines of credit, and other forms of financing as determined by the program. The specific financing options available will depend on the needs of each eligible small business and the terms and conditions of the program.

How can small businesses apply for financing under SB 1235?

Small businesses interested in securing financing under SB 1235 can apply through participating financial institutions, including banks, credit unions, and other lenders. The application process will vary depending on the lender and the specific financing product being sought.

What are the benefits of SB 1235 for small businesses in California?

SB 1235 provides California’s small businesses with access to low-cost financing that can help them overcome the challenges of securing funding and support their growth and success. The program is designed to help small businesses overcome barriers to financing, including a lack of collateral, a lack of credit history, and other factors that make it difficult for small businesses to secure financing from traditional sources.

In conclusion, SB 1235 provides California’s small businesses with a valuable new tool for securing financing and supporting their growth and success. Whether you’re looking to expand your business, invest in new equipment, or take advantage of other opportunities, SB 1235 provides a low-cost financing option that can help you achieve your goals. If you’re a small business owner in California, be sure to explore this new financing option and take advantage of the many benefits it offers.