Agriculture sets the rhythm
Salinas is the county seat of Monterey County and the main business, governmental and industrial center of the region. Its nickname, the Salad Bowl of the World, comes from a large agriculture industry, and its marine climate suits flowers, grape vineyards and vegetable growers. Major employers include growers and packers such as Taylor Farms, Tanimura & Antle and Mann Packing, along with two hospitals and the county. The city is also known as a hub for agricultural technology, helped by its proximity to Silicon Valley.
For the equipment repair shops, labor contractors, cooling and packing suppliers and restaurants in that system, income tracks the growing and harvest calendar.
Which three months you submit matters
We ask for about three months of business bank statements. If those months fall entirely in your slow stretch, the file will look thinner than your business really is. If they include part of your busy period, a reviewer can see both the dip and the recovery. You cannot pick months that do not exist, but you can time your application and explain it.
Add a short note: when your season starts, when payments arrive, and why your credit took a hit. Off-season credit damage is common in farm economies and is easy to understand once it is stated.
What helps and what hurts
- Helps: deposits that rise with the season, an account that recovers after slow weeks, a clear use for the money.
- Hurts: repeated returned items, several other financing debits, deposits that fall even during the season.
Repaying around the off-season
The biggest risk for a seasonal business is taking on a payment that is comfortable in July and painful in January. Before you accept any offer, take your weakest month from the last year and check whether the business could have made the payment then, along with rent, payroll and existing obligations. If it could not, ask for a smaller amount or a structure that moves with revenue. A smaller amount that you can carry through winter usually does more good than a larger one that strains the account at the worst time.
The same goes for what the money is for. Funding a packing contract you have already won, or parts for equipment that must run through harvest, pays itself back. Covering a gap that will simply recur next year does not.
Terms you can rely on
We consider FICO 500 and above with a soft credit pull. No tax returns are required, the application takes about 5 minutes, and sole proprietors can apply. Funding runs from $25,000 to $5,000,000, and approved files can be funded in as little as 24 hours. We do not promise approval, and weaker credit can mean a smaller amount or a higher cost. Plan repayment around your slow months, not your best ones.
More options for local businesses are on the Salinas business funding page. When ready, apply.