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

Dell City, Texas Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Dell City, Texas are available. You just need to talk to the right bank.

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

Banks that Lend to Dell City Businesses

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

Small Business Bank Recent SBA Loans
First Savings Bank
Beresford, SD
3

Dell City Bank Loan Tips

Prior to meeting with banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

A well-defined business plan is is critically important. If the loan is to for a going concern, 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 to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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 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

If you are planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review How Much Venture Capital Is There?.

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