Business loans up 57 percent in California

Looking for money to start a corporation? Entrepreneurs in need of finances for startups may be well-advised to undergo business incorporation in California. According to report from the Press-Enterprise, the state’s businesses are reaping the benefits of American Recovery and Reinvestment Act-supported Small Business Administration loans.

The program was recently extended to May 31, and the SBA has used funds received from the act to support $25 billion in small business loans. The source says companies in California have seen a 57 percent increase in loans over the first six months of this fiscal year. The amount of loans totaled $151.8 million compared to $79.6 million last fiscal year.

A number of entrepreneurs have already started boosting business endeavors in light of the extension of these loans through May. “We’ve seen a spike in activity by more than 20 percent in the last 60 days because of businesses taking advantage of this confluence of events,” Mike Kendall, vice president of Newport Beach-based Turner Development, told the source.

If the potential to gain capital funds is not enough for some entrepreneurs to consider forming a company in California, they may be interested to learn that Santa Clara University will be offering a free entrepreneurship program to individuals with promising business plans. Seattle PI says the program will begin in June 2010.ADNFCR-3052-ID-19754949-ADNFCR

Melissa Clark
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Melissa Clark

Head of Content & Customer Marketing at Incfile
Melissa sets the vision for Incfile's content marketing and customer relationship management. Melissa has more than 10 years experience in various marketing roles, and a passion for supporting small businesses as they incorporate and grow. She loves sharing information that will help business owners maximize their LLCs, Corporations and Nonprofits. In her spare time, Melissa is an active member of The Junior League and enjoys running half marathons.
Melissa Clark
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