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

Stansbury Park, Utah Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Stansbury Park, Utah who are interested in getting a bank loan.

Lenders for Stansbury Park Businesses

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

Small Business Bank Recent SBA Loans
Bank Of The West
Salt Lake City, UT
1
Granite Fcu
Salt Lake City, UT
3
Mountain America Fcu
West Jordan, UT
5
Tooele Fcu
Tooele, UT
11
Zions First National Bank
Salt Lake City, UT
1
Zions First National Bank
West Valley City, UT
1

Stansbury Park Business Loan Advice

Prior to contacting 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.

Having a business plan is an important prerequisite. If the money is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 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. 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

Gaebler.com is a site that is dedicated to aiding small business owners, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Business Line of Credit.

Business Loan Sources for Other Cities in Utah
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