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6 Quick Ways to Get Fast Cash for Your Small Business in Los Angeles & Orange County

6 Quick Ways to Get Fast Cash for Your Small Business in Los Angeles & Orange County

  • Running a small business in Southern California is exciting, but there may come a time when you need an injection of cash to manage financial hiccups or take advantage of growth opportunities. Whether you operate a trendy boutique in Silver Lake or a family-owned restaurant in Anaheim, here are six fast funding options for small businesses in Los Angeles and Orange County that can help you secure capital quickly.

    1. Sell Your Accounts Receivable to a Third Party

    Also known as accounts receivable factoring in Orange County (as well as in Los Angeles), invoice factoring allows you to sell unpaid invoices to a factoring company. In exchange, you’ll receive a portion of the invoice total immediately—often within 24–48 hours. It’s one of the most popular quick cash flow solutions for local companies dealing with slow or late-paying clients.

    Six Factoring Resources

    1. TCI Business Capital

    • Phone: (800) 707-4845
    • Website: tcicapital.com
    • Specializes in invoice factoring for a wide range of industries.

    2. altLINE by The Southern Bank Company

    • Phone: (205) 607-0811
    • Website: altline.sobanco.com
    • Known for flexible factoring rates and invoice financing resources for LA entrepreneurs.

    3. Riviera Finance

    • Phone: (800) 872-7484
    • Website: rivierafinance.com
    • Offers factoring services nationwide with a local presence in California.

    4. Triumph Business Capital

    • Phone: (866) 638-8700
    • Website: triumphbcp.com
    • Provides customizable factoring solutions for various small businesses.

    5. BlueVine (also offers lines of credit)

    • Website: bluevine.com
    • Combines factoring with other financing options to support alternative lending for small businesses in Southern California.

    6. Factor Funding Co.

    • Phone: (866) 245-0020
    • Website: factorfunding.com
    • Focuses on tailoring factoring agreements to fit the cash flow cycle of different industries.
    Close-up of invoices showing accounts receivable factoring in Orange County, highlighting invoice financing resources for LA entrepreneurs and alternative lending for small businesses in Southern California.

    2. Apply for Small Business Grants

    Grants are essentially “free money,” provided your business meets specific requirements. Various government agencies, nonprofits, and private organizations offer grants targeting fast funding options for small businesses in Los Angeles and surrounding regions. Although competition can be fierce, grants can significantly boost your cash flow without creating debt.

    Six Grant Resources

    1. LA County Economic Development Corp (LAEDC)

    • Website: laedc.org
    • Offers guidance on local grants, incentive programs, and business consulting services.

    2. California Governor’s Office of Business and Economic Development (GO-Biz)

    • Website: business.ca.gov
    • Provides information on state-level grants, tax incentives, and other funding opportunities.

    3. Grants.gov

    • Website: grants.gov
    • The main portal for federal government grants, searchable by keywords and categories.

    4. City of Los Angeles Economic and Workforce Development Department

    • Website: ewddlacity.com
    • Offers local grants and incentives for businesses located within the City of Los Angeles.

    5. City of Anaheim Small Business Assistance

    6. National Association for the Self-Employed (NASE) Growth Grants

    • Website: nase.org
    • Offers up to $4,000 in grant funding to help self-employed individuals and small business owners with business development.

    3. Short-Term Loans and Lines of Credit

    Short-term loans and lines of credit are often quicker to secure than traditional long-term bank loans, making them ideal for quick cash flow solutions for local companies. If you have decent credit and a solid business plan, you might get approved in as little as 1–2 business days.

    Six Existing Lending Resources

    1. Opportunity Fund

    • Website: opportunityfund.org
    • A nonprofit microlender focusing on underserved communities in California.

    2. California Small Business Loan Guarantee Program

    3. U.S. Small Business Administration (SBA) Microloans

    4. Lendistry

    • Website: lendistry.com
    • A minority-led Community Development Financial Institution (CDFI) that provides loans and lines of credit.

    5. Bank of the West Small Business Lines of Credit

    • Website: bankofthewest.com
    • A regional bank offering lines of credit that can be accessed quickly once approved.

    6. East West Bank

    • Website: eastwestbank.com
    • Known for serving diverse communities and offering flexible lending solutions.

    Additional Online Lending Resources

    (From NerdWallet’s reviews and other reputable sources)

    1. OnDeck

    • Website: ondeck.com
    • Offers short-term loans up to $250,000 and lines of credit; minimum credit score of 625.
    • Why It’s Good: Fast approvals, best for businesses needing quick turnaround.

    2. Accion Opportunity Fund

    • Website: accionopportunityfund.org
    • Provides small business working capital loans up to $250,000; minimum credit score of around 600.
    • Why It’s Good: Focuses on underserved entrepreneurs, including women and minority groups.

    3. Fundbox

    • Website: fundbox.com
    • Offers lines of credit up to $150,000 with a minimum credit score around 600.
    • Why It’s Good: Ideal for new or smaller businesses needing flexibility.

    4. BlueVine (also mentioned in factoring)

    • Website: bluevine.com
    • Lines of credit up to $250,000; minimum credit score of 625.
    • Why It’s Good: Rapid approvals, especially for recurring financing needs.

    5. Fora Financial

    • Website: forafinancial.com
    • Online term loans up to $1.5 million; minimum credit score of around 570.
    • Why It’s Good: Known for working with business owners who have lower credit scores.

    6. Expansion Capital Group

    • Website: expansioncapitalgroup.com
    • Merchant cash advances and short-term loans up to $300,000; minimum credit score of 500.
    • Why It’s Good: Best for merchant cash advances and quick access to funds.

    7. Headway Capital

    • Website: headwaycapital.com
    • Lines of credit up to $100,000; minimum credit score of 625.
    • Why It’s Good: Flexible working capital solution for ongoing business needs.

    4. Crowdfunding

    Crowdfunding involves raising small amounts of money from a large number of people, typically via online platforms. It can be an excellent way to fund product launches, expansions, or community-based projects in Los Angeles and Orange County. To succeed, you’ll need a compelling pitch and a robust marketing strategy.

    Six Crowdfunding Platforms

    1. Kickstarter

    • Website: kickstarter.com
    • Focuses on creative projects, including art, music, and product innovations.

    2. Indiegogo

    • Website: indiegogo.com
    • Popular for startups and inventors seeking flexible funding options.

    3. GoFundMe

    • Website: gofundme.com
    • Known for personal causes but also used by small businesses for community-driven projects.

    4. Patreon

    • Website: patreon.com
    • Ideal for content creators and service-based entrepreneurs seeking recurring support.

    5. IFundWomen

    • Website: ifundwomen.com
    • Specifically supports women-led startups and small businesses.

    6. Wefunder

    • Website: wefunder.com
    • Allows equity crowdfunding, letting backers become partial investors in your business.

    5. Merchant Cash Advances

    A merchant cash advance (MCA) gives you a lump sum in exchange for a fixed percentage of your future credit or debit card sales. This type of financing is considered alternative lending for small businesses in Southern California because it’s easier to qualify for than traditional loans, though costs can be higher.

    Overhead view of a Los Angeles small business owner analyzing quick cash flow solutions for local companies and exploring fast funding options for small businesses in Los Angeles.

    Six MCA Providers

    1. CAN Capital

    • Website: cancapital.com
    • One of the oldest MCA providers with rapid funding options.

    2. Rapid Finance

    • Website: rapidfinance.com
    • Offers multiple funding solutions, including MCAs and lines of credit.

    3. Credibly

    • Website: credibly.com
    • Provides quick approvals and funds can be received in as little as 48 hours.

    4. National Funding

    • Website: nationalfunding.com
    • Based in Southern California, specializing in small business financing.

    5. PayPal Working Capital

    6. Square Capital

    6. Peer-to-Peer (P2P) Lending

    P2P lending platforms connect borrowers directly with individual or institutional investors. These platforms often have a streamlined application process, making it easy for small businesses in LA and OC to secure capital quickly.

    Six P2P Lending Platforms

    1. LendingClub

    • Website: lendingclub.com
    • One of the first P2P lenders, offering small business loans as well as personal loans.

    2. Prosper

    • Website: prosper.com
    • Provides personal loans that can be used for business purposes; fast approval process.

    3. Funding Circle

    • Website: fundingcircle.com
    • Specializes in small business loans with competitive rates and quick funding.

    4. Upstart

    • Website: upstart.com
    • Uses AI-driven underwriting, often resulting in faster approval decisions.

    5. StreetShares

    • Website: streetshares.com
    • A veteran-focused platform but open to all types of small businesses.

    6. Kiva

    • Website: kiva.org
    • A nonprofit platform offering 0% interest microloans funded by individual lenders worldwide.

    Final Thoughts

    When you need fast funding options for small businesses in Los Angeles, you have a multitude of routes to consider. Whether you choose accounts receivable factoring in Orange County, apply for grants, or explore alternative lending for small businesses in Southern California, it’s crucial to evaluate your options thoroughly. Aim to secure quick cash flow solutions for local companies without risking your long-term financial health.

    Remember, the right financing strategy can be the fuel your company needs to thrive. If invoice financing resources for LA entrepreneurs sound like a fit, reach out to factoring companies for quick approvals. If you prefer other alternatives, grants, short-term loans, MCAs, and even crowdfunding can help. With careful planning, you’ll be able to focus on what really matters—growing your business in the vibrant Los Angeles and Orange County markets.

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