Chesapeake

45
  • Number of Businesses: 3,865
  • Number of Small Business Advances: 727
  • Yearly Small Business Revenue: $9,861,820
  • Two-Year Survival Rate: 49%

The second-largest city in Virginia, Chesapeake is located in the heart of the Hampton Roads area and offers a wide variety of scenery and culture for residents, visitors, and business owners. A series of rapid expansions in the 1980s and 1990s found the city growing beyond its roots as a suburb of Norfolk, and business owners have been reaping the benefits ever since.

  • Chesapeake is home to 3,865 unique small businesses
  • Out of those, 727 took out small business loans
  • The yearly total small business revenue in Chesapeake is $9,861,820 (as of 2007)
  • Roughly 46% of Chesapeake small businesses will close within two years of opening

With a diverse economy encompassing industries like information technology, healthcare, and retail, business owners large and small have been able to find a customer base in Chesapeake. But no matter what industry you’re in, there’s a few things any small business owner needs: the right audience, the right product and service, and the right source of small business financing. Those first two are up to you, but if you need a hand with getting a Chesapeake small business loan, let Credibly be your first choice. No matter what you need the money for, from new equipment to a new location to a new business opportunity, Credibly can get you the working capital you need with less headaches and waiting than the banks could even dream of offering.

Credibly in Chesapeake

Don’t want to fill out a mountain of paperwork? Don’t want to give anything for collateral – or maybe you don’t have any to give? To us, you’re more than just your credit score – Credibly determines your eligibility by considering the overall health of your business, and our fast pre-qualification process can get you approved in as little as 48 hours in most cases. If you need some Chesapeake small business financing for anything your business requires, pre-qualify today and experience the Credibly advantage.

The Credibly Business Index

The Credibly Business Index is a scoring system that ranks how sustainable a region is for small businesses. We consider several factors, such as number of businesses in the city, overall business revenue, and two-year business survival rates as reported by the U.S. Small Business Administration.

The Credibly Business Index score given to Chesapeake is 49 out of a possible 100. This score is generated from data derived from the U.S. Small Business Administration and the United States Census Bureau as of July, 2015, and is subject to change. This Business Loan and Revenue Index is intended for informational purposes only, and may not be applicable to, or predictive of, your particular circumstances.

SOURCES:
U.S. Small Business Administration 2013 Small Business Profiles for States and Territories
United States Census Bureau 2007 Economic Census of the United States