Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Rosalia, Washington Small Business Loans

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Rosalia, Washington, we've put together a list of local small business banks that you should contact.

Other Lending Resources for Rosalia Businesses

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

Small Business Bank Recent SBA Loans
Fortune Bank
Seattle, WA
1
U.S. Bank National Association
Cincinnati, OH
1

Rosalia Bank Loan Tips

Before reaching out to lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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

Being able to present a well-written business plan is essential. If the capital 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 guarantee 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 stocks and bonds that you might own or life insurance policies. 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 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

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Find Start-Up Capital.

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