Not So Hard Money and Bridge Loans in California

California is the largest state of the United States by population, and the third largest by area, located on its coast to the Pacific Ocean. California has natural attractions as well as theme-parks and bustling city life: Southern California is home to such popular attractions as Disneyland, Hollywood and the beaches in Malibu that inspired the television show Baywatch, while the northern part of California offers the iconic Golden Gate Bridge, the hills of San Francisco, the vineyards of Napa Valley, Silicon Valley, and the capital, Sacramento. Outside California’s major cities one finds some of North America’s most rugged national parks, incredible skiing/snowboarding opportunities, and quiet and ancient northern forests including the highest mountain peak in the contiguous USA, Mt. Whitney.

California’s economy ranks among the largest in the world. As of 2018, the gross state product (GSP) was $3.0 trillion ($76,000 per capita), the largest in the United States. California is responsible for 1/7 of the United States’ approximate $20 trillion gross domestic product (GDP). As of 2018, California’s nominal GDP is larger than all but 4 countries (the United States, China, Japan and Germany). In terms of Purchasing Power Parity, it is larger than all but 8 countries (the United States, China, India, Japan, Germany, Russia, Brazil and Indonesia).

The five largest sectors of employment in California are trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In output, the five largest sectors are financial services, followed by trade, transportation, and utilities; education and health services; government; and manufacturing. California’s economy is dependent on trade and international related commerce accounts for about one-quarter of the state’s economy. In 2008, California exported $144 billion worth of goods, up from $134 billion in 2007 and $127 billion in 2006. Computers and electronic products are California’s top export, accounting for 42 percent of all the state’s exports in 2008. Agriculture is an important sector in California’s economy. Farming-related sales more than quadrupled over the past three decades, from $7.3 billion in 1974 to nearly $31 billion in 2004. This increase has occurred despite a 15 percent decline in acreage devoted to farming during the period, and water supply suffering from chronic instability. Factors contributing to the growth in sales-per-acre include more intensive use of active farmlands and technological improvements in crop production.

Many of California’s coastal cities include some of the wealthiest per-capita areas in the United States. The high-technology sectors in Northern California, specifically Silicon Valley, in Santa Clara and San Mateo counties, have emerged from the economic downturn caused by the dot-com bust. In 2019, there were more than 1 million millionaires in the state. In 2010, California residents were ranked first among the states with the best average credit score of 754.

We lend in California cities both large and small; Bakersfield, Fresno, Los Angeles, Modesto, Oxnard, Sacramento, San Bernardino, San Diego, San Francisco, Santa Cruz, Santa Rosa, Stockton and Visalia.
If we didn’t list your city don’t worry about it, we’ll fund you.

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