Loan Census Banking News and Information
August 8, 2020  
 
 
  Business Loan Information  
 

Sherman, Texas Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Sherman, Texas! If that's what's on your mind, you've come to the right place.

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

Local Sherman Lenders

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

Small Business Bank Recent SBA Loans
American Bank Of Texas 81
Bank of Texas NA - Sherman  
Bank One - Business Lending  
Bank One - Sherman- Banking Centers- for Numbers  
Landmark Bank 2

Banks that Lend to Sherman Businesses

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

Small Business Bank Recent SBA Loans
Amer National Bank - Texas
Fort Worth, TX
1
American Bank Of Texas
Frisco, TX
1
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
1
Bank Of The West
San Francisco, CA
1
Business Loan Center, LLC
New York, NY
5
Capital One
Mclean, VA
2
Cit Small Business Lending Corp
Livingston, NJ
2
Comerica Bank
Houston, TX
1
Compass Bank
Birmingham, AL
1
Excel National Bank
Beverly Hills, CA
1
First United Bank & Trust
Durant, OK
1
Innovative Bank
Oakland, CA
2
Jpmorgan Chase Bank
Houston, TX
3
Landmark Bank
Ada, OK
2
Mercantil Commercebank National As
Houston, TX
2
Metrobank
Houston, TX
1
Newtek Small Business Finance Inc.
New York, NY
1
Sterling Bank
Houston, TX
2
Superior Financial Group, LLC
Walnut Creek, CA
1
U.S. Bank National Association
Cincinnati, OH
2
United Central Bank
Garland, TX
2
Wells Fargo Bank
Austin, TX
1
Wells Fargo Bank
San Jose, CA
1
Wells Fargo Bank
Sioux Falls, SD
1
Wilshire State Bank
Los Angeles, CA
3

Sherman Bank Loan Tips

Before reaching out to banks 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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the financing is to for a company that is already doing 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge 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 meeting with the 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

If you are new to our Gaebler.com site, you should know that we are passionate about aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. If you want to learn about raising money, we would suggest you read Borrowing Money from Friends and Family.

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