Virginia frequently tops the lists of business-friendly states and has earned this reputation by helping businesses relocate, expand, and get started. Pro-business values, an educated, skilled workforce, and easy access to several key U.S. markets, including New York, Atlanta, and Washington, are just a few of the benefits and resources that Virginia offers to businesses of all kinds.
Virginia’s Industry Breakdown
While some parts of the country still struggle with a sputtering economic recovery, Virginia boasts unfettered capital investment and job growth, with a diverse and unexpected set of targeted business sectors, including:
- Food processing
- Plastics & advanced materials
- Data centers
- Life sciences
- Corporate headquarters
Few locations can even come close to the commonwealth’s unique combination of assets. Within a population of more than 8.2 million, Virginia’s workforce numbers more than 4 million. And it’s one of the country’s most educated workforces: One in three Virginians have a bachelor’s or advanced degree.
Economic Growth and Small Business Loans in Virginia
At the heart of Virginia’s economy are more than 650,000 small businesses, which represent 97.8 percent of all employers and employ nearly half of the private-sector labor force, or nearly 1.5 million people. Like those in the rest of the country, Virginia’s small businesses struggled during the economic downturn. But they seemed to turn the corner in 2011, when the number of establishments opening exceeded those closing.
Virginia’s business engine has been full steam ahead ever since, and today the state’s economy is strong and diversified. Consider that:
- More than 17,300 high-tech establishments operate in Virginia.
- More than 70 $1 billion-plus firms and 32 Fortune 1000 firms are headquartered here.
- Virginia hosts more than 700 internationally owned businesses from 45 countries.
- The state’s exports totaled $18.2 billion in 2012.
- Virginia has been ranked among the top 10 states best prepared to navigate the changing economy in terms of being knowledge-based, globalized, entrepreneurial, IT-driven and innovation based.
Virginia has been ranked among the top 10 states best prepared to navigate the changing economy in terms of being knowledge-based, globalized, entrepreneurial, IT-driven, and innovation-based. That’s why BFS Capital is a strong supporter of Virginia’s small- and medium-sized businesses. As a primary source for business capital, we offer financing solutions that include Virginia business loans for up to $1 million for qualified businesses. We provide a simplified funding experience designed with the small business owner in mind. If you’re interested in one of our small business loans, Virginia residents can rest assured knowing that:
- Our application is easy, and our approval process is fast.
- We offer felxible repayment terms, often tailored to individual business needs.
- Business owners have funding in as few as two business days after approval.
- How to use the funds is completely up to the business owner’s discretion.
Business owners are using our small business loans in Virginia for all kinds of expenses, from new product and marketing efforts to expansion to upgrading technology and equipment. They’re also remodeling, adding inventory, and hiring and training new staff. Covering unexpected expenses and managing cash flow round out the list.
Apply Now for a Small Business Loan in Virginia
At BFS Capital, our small business loans in VA and merchant cash advances have been helping small businesses grow for many years. When you apply for a loan with us, you can feel great knowing that we stand completely behind our small business owners. To see if you qualify for one of our small business loans, Virginia residents should contact us online or give us a call today. At BFS Capital, we provide business loans for customers all over Virginia including:
- Virginia Beach
- Newport News
Financing solutions from BFS Capital are keeping Virginia businesses in the lead for today and for tomorrow. We may have capital solutions for your business, too.