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

Small Business Lenders in Winfield, Texas

 
Loan Census SBA Loan Info

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

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

Business Loan Providers for Winfield Businesses

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

Small Business Bank Recent SBA Loans
Northstar Bank Of Texas
Denton, TX
1
Prosper Bank
Prosper, TX
1
Saehan Bank
Los Angeles, CA
1

Business Loan Advice for Winfield Businesses

Prior to reaching out to lenders for a loan, you will need to have a specific plan.

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 your ability to pay the loan back to the lender.

A well-defined business plan is essential. If the capital 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 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 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 are SBA lenders. 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

If you are new to our Gaebler.com site, you should know that we are devoted to aiding entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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