From cannery town to northern Silicon Valley
In the first half of the twentieth century, Hayward's economy was based largely on the Hunt Brothers Cannery. William and Joseph Hunt opened it in 1895 to pack local cherries, peaches and apricots, and later tomatoes. Manufacturing never left. Wikipedia says the city has a large number of manufacturing companies, both headquarters and plants, including some high-tech firms, and counts Hayward as part of northern Silicon Valley. Annabelle Candy, Columbus Salame, Shasta and a PepsiCo production and distribution center are among the plants it names. Southland Mall is the city's largest shopping center.
With 162,954 residents in 2020, Hayward is the third largest city in Alameda County.
Why manufacturers run short on cash
A manufacturer pays for inputs before it can sell anything. Raw materials, packaging and labor are paid for weeks before the finished goods ship, and the buyer, often a distributor or retailer, may pay 30 to 60 days after that. The more orders you win, the more cash this cycle takes. That is why a growing plant can run short of money while its sales are rising.
For illustration: a small Hayward food maker gets a regional grocery order that requires $50,000 in ingredients and packaging and three extra weeks of line labor. The grocer pays on net-45. From the first ingredient purchase to the grocer's payment, roughly two months pass. A business loan covers that stretch. These figures show how the timing works. They are not our terms or typical results.
Uses we see described by owners
- A larger batch of raw materials bought at a better price
- A packaging line, mixer, CNC machine or forklift
- Payroll for added shifts during a busy contract
- Fit-out of a second warehouse bay
- New fixtures and opening inventory for a store near Southland Mall
What to prepare
Gather about three months of business bank statements. No tax returns are required. Requests range from $25,000 to $5,000,000. FICO scores from 500 are considered, and the soft credit pull at the start does not affect your score. Sole proprietors can apply. If a big customer drives your deposits, note it so the reviewer can read the timing correctly. Approved and signed files can be funded in as little as 24 hours.
Other options for Hayward businesses are on the Hayward business funding page. When you're ready, start the 5-minute application.