Loan Census Banking News and Information
May 23, 2019  
 
 
  Business Loan Information  
 

Small Business Lenders in Celina, Texas

 
Loan Census SBA Loan Info

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

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

Banks that Lend to Celina Businesses

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

Small Business Bank Recent SBA Loans
American Bank Of Texas
Sherman, TX
1
Bank Of America
Charlotte, NC
1
Cit Small Business Lending Corp
Livingston, NJ
2
Colonial Savings, F.a.
Fort Worth, TX
1
Compass Bank
Birmingham, AL
1
Jpmorgan Chase Bank
Houston, TX
6
Millennium State Bank Of Texas
Dallas, TX
1
Prosper Bank
Prosper, TX
2

Business Loan Advice for Celina Businesses

As a prerequisite to reaching out to 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, describe what the money will finance, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the bank loan is to for a company that is already doing business, 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 cash flow from the business does not meet your projections.

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. Prior to visiting local banks, 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 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 Getting a Small Business Loan.

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