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

Small Business Lenders in Wayne, Oklahoma

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Wayne, Oklahoma, we've assembled a list of local small business banks that you should contact.

Other Lending Resources for Wayne Businesses

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

Small Business Bank Recent SBA Loans
Mcclain Bank
Purcell, OK
1

Business Loan Advice for Wayne Businesses

Before reaching out to banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the capital 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the banker, 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

Gaebler.com is a site that is dedicated to providing advice to small business owners, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we recommend you read 504 Loans.

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