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

Sprague, Washington Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Sprague, Washington small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Local Sprague Business Loan Sources

Without further adieu, here's our list of small business banks in Sprague.

Small Business Bank Recent SBA Loans
U S Bank - Branch Offices- Sprague- Sprague Office  

Banks that Lend to Sprague Businesses

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

Small Business Bank Recent SBA Loans
Union Bank Of California
San Bernardino, CA
1

Sprague Bank Loan Tips

Prior to contacting banks for a 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the bank loan 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 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 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Angel Investors.

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