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

Business Loan Galveston, Texas

 
Loan Census SBA Loan Info

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

We wrote this article for entrepreneurs in Galveston, Texas who are interested in getting a bank loan.

Local Galveston Banks

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

Small Business Bank Recent SBA Loans
Bank Of America  
Coastal Community Federal Credit Union  
Texas First Bank 1

Lenders for Galveston Businesses

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

Small Business Bank Recent SBA Loans
1st Choice Bank
Houston, TX
1
Amresco SBA Holdings, Inc.
Irving, TX
1
Banco Popular North America
New York City, NY
3
Bank Of America
Charlotte, NC
13
Business Loan Center, LLC
New York, NY
1
Business Loan Center, LLC
Panama City Beach, FL
1
Capital One
Mclean, VA
3
Cit Small Business Lending Corp
Livingston, NJ
2
Citicapital Small Business Finance
Irving, TX
1
Comerica Bank
Dallas, TX
1
Compass Bank
Birmingham, AL
3
First National Bank Of Arizona
Scottsdale, AZ
1
Innovative Bank
Oakland, CA
5
Jpmorgan Chase Bank
Houston, TX
2
Metrobank
Houston, TX
2
Midfirst Bank
Oklahoma City, OK
1
Omnibank, National Association
Houston, TX
1
Regions Bank
Memphis, TN
1
Sterling Bank
Houston, TX
1
Texas First Bank Santa Fe
Friendswood, TX
1
Texas First Bank Santa Fe
Santa Fe, TX
1
The Frost National Bank
Houston, TX
1
The Frost National Bank
San Antonio, TX
2
Washington Mutual Bank
Henderson, NV
4
Wells Fargo Bank
San Jose, CA
1

Tips for Getting a Business Loan in Galveston

Before contacting banks for a loan, you will need to determine exactly what size loan you will be asking for.

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

A well-defined business plan is an important prerequisite. If the loan is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge 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 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 do your homework 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

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we suggest you read 504 Loans.

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