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

Pittsburg, Oklahoma Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Pittsburg, Oklahoma, we've put together a list of local small business banks that you should contact.

SBA Lenders for Pittsburg Businesses

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

Small Business Bank Recent SBA Loans
The Bank, National Association
Mcalester, OK
2

Pittsburg Bank Loan Tips

Before meeting with banks to get a bank loan, you will need to have a specific plan.

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 plan to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the loan is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 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

Our Gaebler.com site is devoted to helping entrepreneurs, and we have a lot of useful articles about to Raising Money. To learn more, one article that might be of interest to you is Business Cash Advances.

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