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March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Wells, Texas

 
Loan Census SBA Loan Info

Getting a business loan in Wells, Texas seems challenging at first, but we're here to help you get started.

These materials were prepared for small business owners in Wells, Texas who are interested in getting a small business loan.

Local Wells Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Wells.

Small Business Bank Recent SBA Loans
Commercial Bank of Texas NA - Wells Office  

Business Loan Providers for Wells Businesses

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

Small Business Bank Recent SBA Loans
Bancorpsouth Bank
Tupelo, MS
1
Stearns Bank
Saint Cloud, MN
1

Tips for Getting a Business Loan in Wells

Prior to contacting 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.

Being able to present a well-written business plan is essential. If the money is to for a company that is already doing business, 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 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 these banks 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 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 entrepreneurs, and we have a lot of information pertaining to to Raising Money. To learn more, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in Texas
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