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

Small Business Lenders in Tesuque, New Mexico

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Tesuque, New Mexico, we've put together a list of local small business banks that you should contact.

Lenders for Tesuque Businesses

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

Small Business Bank Recent SBA Loans
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Tesuque Businesses

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

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the bank loan 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 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 pledge your personal assets, such as your individual retirement account or pension plan. 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. Prior to visiting local banks, 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

Gaebler.com is a site that is passionate about providing advice to small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.

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