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

Small Business Lenders in Severance, Colorado

 
Loan Census SBA Loan Info

Small business loans in Severance, Colorado are available. You just need to talk to the right bank.

If you are hoping to get a small business loan and your business is based in Severance, Colorado, we've assembled a list of local small business banks that you should contact.

Local Severance Banks

To assist you in finding a small business banker, here's our list of small business banks in Severance.

Small Business Bank Recent SBA Loans
Colorado Community Bank of Severance  
First National Bank of Severance  

SBA Lenders for Severance Businesses

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

Small Business Bank Recent SBA Loans
First Community Bank
Taos, NM
1

Business Loan Advice for Severance Businesses

Prior to reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.

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 how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for a company that is already doing 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 pledge your personal assets, such as your individual retirement account or pension plan. 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. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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