Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Aurora, Utah

 
Loan Census SBA Loan Info

Raising money in Aurora, Utah? If so, you'll want to talk to some of these small business lenders in Aurora.

If you are planning on applying for a small business loan and your business is based in Aurora, Utah, we've assembled a list of local small business banks that you should contact.

Lenders for Aurora Businesses

This is a list of banks outside of Aurora, Utah that have provided SBA loans to Aurora businesses. Some of these may be national banks with local branch locations.

Small Business Bank Recent SBA Loans
Americanwest Bank
Provo, UT
1
Mountain America Fcu
West Jordan, UT
4
Zions First National Bank
West Valley City, UT
6

Business Loan Advice for Aurora Businesses

As a prerequisite to contacting banks to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the loan is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report in any case, so hopefully you have good credit history -- you may want to get a copy of your credit history prior to meeting with the banker.

Many of the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on on SBA loans programs to see if you qualify. SBA 7(a) loans, SBA 504 loans and SBA disaster assistance loans may be available to you.

Gaebler.com Advice on Raising Money

If you are new to our Gaebler.com site, you should know that we are deeply committed to providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. To learn more, we would suggest you read Business Incubators.

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