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

Enoch, Utah Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Enoch, Utah 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 Enoch, Utah, we've assembled a list of local small business banks that you should contact.

Business Loan Providers for Enoch Businesses

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

Small Business Bank Recent SBA Loans
Mountain America Fcu
West Jordan, UT
2
State Bank Of Southern Utah
Cedar City, UT
1
Zions First National Bank
Salt Lake City, UT
1
Zions First National Bank
West Valley City, UT
1

Enoch Bank Loan Tips

Before meeting with banks to get 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 intend to to pay the money back to the bank.

Having a business plan is essential. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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.

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Invest the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Choosing VC Firms.

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