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.
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
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Getting a Small Business Loan.
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