Loan Census Banking News and Information
May 25, 2022  
  Business Loan Information  

Small Business Lenders in Alma, Colorado

Loan Census SBA Loan Info

Raising money in Alma, Colorado? If so, you'll want to talk to some of these small business lenders in Alma.

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

Lenders for Alma Businesses

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

Small Business Bank Recent SBA Loans
Community So. Bank D.b.a Commun
Knoxville, TN
Wells Fargo Bank
San Jose, CA

Business Loan Advice for Alma Businesses

Prior to contacting banks 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, walk the banker through the planned use of proceeds, and show how you intend to 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. 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to 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 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. Advice on Raising Money is a site that is deeply committed to supporting small business owners, and we have a lot of resources related to to Raising Money. To learn more, we would suggest you read 504 Loans.

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