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March 28, 2024  
 
 
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Business Loan Grandfalls, Texas

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Grandfalls, Texas who are interested in getting debt financing.

Business Loan Providers for Grandfalls Businesses

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

Small Business Bank Recent SBA Loans
Pecos County State Bank
Fort Stockton, TX
2

Tips for Getting a Business Loan in Grandfalls

Before contacting banks for a 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 bank.

Having a business plan is is critically important. If the financing is to for a going concern, 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, 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 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Choosing VC Firms.

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