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

Small Business Lenders in Belen, New Mexico

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Belen, New Mexico, we've put together a list of local small business banks that you should contact.

Local Belen Banks

To assist you in finding a small business banker, here's our list of small business banks in Belen.

Small Business Bank Recent SBA Loans
AG New Mexico FCS ACA  
Bank of Belen - Anytime Bankline  
Bank of Belen - Belen Office  
Bank of Belen - Bookkeeping  
First Community Bank 4
First State Bank - Los Lunas- Belen  
My Bank 19
Ranchers Bank - Rio Communities  
Ranchers Banks  
Wells Fargo Bank NA  

Other Lending Resources for Belen Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
2
First Community Bank
Albuquerque, NM
3
First Community Bank
Clovis, NM
1
First Community Bank
Taos, NM
1
New Mexico Bank & Trust
Albuquerque, NM
2
Wells Fargo Bank
Phoenix, AZ
1
Western Commerce Bank
Carlsbad, NM
1

Business Loan Advice for Belen Businesses

Prior to contacting lenders to get 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 secure the business with your personal assets, such as the equity in your home. The banks will check on your personal credit history 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 do your homework 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 serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Microlending as a Small Business Funding Source.

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