New Jersey Business Loans
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Business Financing for New Jersey Companies
New Jersey, the Garden State is known for its diverse and thriving economy. From large corporations to small businesses, New Jersey is a prosperous state. Business owners throughout New Jersey rely on business loans to grow and finance their businesses.
SMB Compass provides businesses loans in New Jersey to a wide array of industries. With its close proximity to major cities and jobs, New Jersey’s economy has continued to flourish. Advanced manufacturing, financial services, information technology, and transportation and logistics have become several of the leading industries in the state. These industries and many others in New Jersey rely on small business loans in to continue to expand.
Manufacturing Loans in New Jersey
Manufacturing is an important piece of the state’s economy. New Jersey exports over $30 Billion dollars in products per year. The state has one of country’s largest ports in Newark, New Jersey. Petroleum Oil, Jewelry, and technology devices make up a majority of the state’s exports. These Manufacturing businesses deal with late payments, inventory needs, and overhead expenses on a daily basis. These businesses use business loans to purchase material, equipment, and all the other issues that arise.
Transportation Factoring New Jersey
The transportation and logistics industry have always been a significant industry in New Jersey. The industry is aligned perfectly in New Jersey with its proximity to major highways and cities. There are multitudes of financing products that are used throughout the transportation industry. Invoice factoring, equipment financing, and lines of credit have helped the transportation business thrive. SMB Compass matches your business with the best product to solve your financing needs. Factoring has played a vital part in keeping the logistic business running smoothly. With notoriously long payment terms factoring allows business owners to be paid on the invoice immediately. This allows business owners to take on new projects. Business owners spend less time worrying about being paid and more time gaining new clients.
Equipment financing has allowed businesses throughout New Jersey to purchase new equipment as they continue to grow. The manufacturing and transportation industry are constantly in need of equipment to work faster and more efficiently. Equipment can be financed over 3 to 5 years letting business owner spread payments out and put reinvest capital in their businesses.
SMB Compass has loan programs in New Jersey from $25,000 up to $100 million dollars. SMB compass specializes throughout New Jersey in equipment financing, SBA loans, asset-based lending, bridge loans, Invoice factoring, and business lines of credit. Schedule a call with a Lending Advisor today to learn more about the business loan options in New Jersey.