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

Business Loan Woods Cross, Utah

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Woods Cross, Utah who are interested in getting a small business loan.

Local Woods Cross Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Woods Cross.

Small Business Bank Recent SBA Loans
Merchantech Inc  
Prime Alliance Bank 3
Wells Fargo Bank NA - Davis County South Area- Bountiful-Woods Cross  

Other Lending Resources for Woods Cross Businesses

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

Small Business Bank Recent SBA Loans
America First Fcu
Riverdale, UT
3
America West Bank
Layton, UT
2
Banco Popular North America
New York City, NY
1
Bank Of American Fork
American Fork, UT
3
Bank Of The West
Salt Lake City, UT
1
Capital One
Mclean, VA
2
Celtic Bank Corporation
Salt Lake City, UT
2
Central Bank
Provo, UT
1
Deseret First Fcu
Salt Lake City, UT
4
First Western Sblc, Inc
Dallas, TX
1
Jpmorgan Chase Bank
Houston, TX
5
Merrill Lynch Bank Usa
Salt Lake City, UT
1
Mountain America Fcu
West Jordan, UT
6
U.S. Bank National Association
Cincinnati, OH
2
Wells Fargo Bank
Phoenix, AZ
1
Wells Fargo Bank
San Jose, CA
2
Zions First National Bank
Salt Lake City, UT
4
Zions First National Bank
West Valley City, UT
14

Tips for Getting a Business Loan in Woods Cross

Before contacting banks for a 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 your ability to pay the loan back to the bank.

Having a 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 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, the bank may ask you to to secure the business with 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. Before meeting with the 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

Our Gaebler.com site is all about helping 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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