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

Business Loan Los Lunas, New Mexico

 
Loan Census SBA Loan Info

Getting a business loan in Los Lunas, New Mexico seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Los Lunas, New Mexico who are interested in getting debt financing.

Local Los Lunas Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Los Lunas.

Small Business Bank Recent SBA Loans
Bank of Belen - Los Lunas Office  
Bank of the West - Branch Locations- Los Lunas  
First State Bank - Los Lunas  
Ranchers Bank - Los Lunas  
Ranchers Bank - Valencia  
Wells Fargo Bank NA - Los Lunas  
Wells Fargo Bank New Mexico NA  
Wells Fargo Home Mortgage  

Banks that Lend to Los Lunas Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
2
Business Loan Center, LLC
New York, NY
1
Business Loan Center, LLC
Richmond, VA
2
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
2
Mountain America Fcu
West Jordan, UT
1
My Bank
Belen, NM
7
Small Business Loan Source LLC
Houston, TX
1
Sunrise Bank Of Arizona
Phoenix, AZ
1
United Western Bank
Denver, CO
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Wells Fargo Bank
San Jose, CA
3
Western Commerce Bank
Albuquerque, NM
1
Western Commerce Bank
Carlsbad, NM
5

Tips for Getting a Business Loan in Los Lunas

Before reaching out to banks to get 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, define how the money will be used, and show your ability to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing is to for an existing business, 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 to guarantee the loan 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 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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