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

Crockett, Texas Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Crockett, Texas who are interested in getting a small business loan.

Local Crockett Business Loan Sources

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

Small Business Bank Recent SBA Loans
Citizens National Bank 2
First National Bank - Crockett 11

Other Lending Resources for Crockett Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Commercial Bank Of Texas
Nacogdoches, TX
1
Compass Bank
Birmingham, AL
1
Madisonville State Bank
Madisonville, TX
1
United Central Bank
Garland, TX
1
Washington Mutual Bank
Henderson, NV
2

Crockett Business Loan Advice

Before reaching out to banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

A well-defined business plan is is critically important. If the money is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Gaebler.com is a site that is all about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Getting a Small Business Loan.

Business Loan Sources for Other Cities in Texas
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