These materials were prepared for small business proprietors in Inkom, Idaho who are interested in getting a small business loan.
Local Inkom Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Inkom.
|Small Business Bank
||Recent SBA Loans
Other Lending Resources for Inkom Businesses
This is a list of banks outside of Inkom, Idaho that have provided SBA loans to Inkom businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Inkom
Prior to reaching out to banks to discuss getting a bank 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.
Having a business plan is essential. If the money 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, you will likely be asked to pledge your personal assets, such as the equity in your home. 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
Take the time to learn as much as you can about Raising
Money. For starters, we recommend you read
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