Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Billings, Oklahoma

 
Loan Census SBA Loan Info

Getting a business loan in Billings, Oklahoma seems challenging at first, but we're here to help you get started.

These materials were prepared for small business owners in Billings, Oklahoma who are interested in getting a small business loan.

Local Billings Business Loan Sources

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

Small Business Bank Recent SBA Loans
First Bank & Trust CO  

SBA Lenders for Billings Businesses

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

Small Business Bank Recent SBA Loans
The Bank Of Kremlin
Kremlin, OK
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Tips for Getting a Business Loan in Billings

Prior to contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 intend to to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 are SBA lenders. Before you sit down to talk with a small business banker, you may want to get up to speed 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Business Cash Advances.

Business Loan Sources for Other Cities in Oklahoma
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Get a Business Loan in Bixby

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