A city that welcomes new companies
Irvine was incorporated in 1971 and named for James Irvine. It has been rated one of the top cities for start-up businesses, and several universities in the city feed a steady supply of founders: the University of California, Irvine, Concordia University, Irvine Valley College and campuses of the University of La Verne and Pepperdine. The City of Irvine also runs the Destination Irvine program for visitors, meetings and events, and offers free or low-cost filming permits.
That atmosphere helps with ideas, networks and talent. It does not change the fact that a new business needs cash before it has a record, and that most funders look for history that does not exist yet.
What we look at for a young company
We ask for about three months of business bank statements, consider FICO scores of 500 and up, and do not require tax returns. The application takes five minutes and uses a soft credit pull. Sole proprietors can apply.
If your company has a business account and a few months of real deposits, it can be reviewed. If it has not yet taken a payment, there is nothing to read, so the best plan is to start the account, route customers through it and wait for a pattern.
Three kinds of Irvine startup, three kinds of need
| Startup | First big costs | What the money is usually for |
|---|---|---|
| Product or hardware company | Prototyping, tooling, first production run | Inventory and equipment |
| Professional-services firm | Salaries, software, office space | Payroll while the first invoices clear |
| Consumer storefront or restaurant | Build-out, equipment, permits | Opening costs and working cash |
For illustration only: a two-founder design and prototyping studio spends $40,000 on equipment and software, then pays two employees for ten weeks before client payments settle. The first cost is equipment; the second is working cash. Keep them separate when you apply. The numbers are an example, not our terms.
A practical checklist for a first application
- A dedicated business account with about three months of real deposits.
- A clear note on what the money buys and how it pays back.
- A month-by-month cash plan that shows when costs land and when revenue arrives.
- Separate numbers for one-time costs, such as equipment, and recurring ones, such as payroll.
That list takes under an hour and makes the application more useful to read. Most of all, be realistic about the first three months after you receive funds. Revenue usually ramps slower than the plan, so keep part of the money in reserve rather than spending it all in week one.
Apply
We fund $25,000 to $5,000,000, with funding in as little as 24 hours after approval. Apply and say what the money buys. For a single purchase, see equipment financing; for flexible cash, see a line of credit. See also Orange County.