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

Alva, Oklahoma Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Alva, Oklahoma small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Local Alva Banks

Without further adieu, here's our list of small business banks in Alva.

Small Business Bank Recent SBA Loans
Alva St. Bank & Trust 5
Alva State Bank & Trust CO - Burlington Branch  
Alva State Bank & Trust Company  
Community Bank 3
Community National Bank  
Farm Credit of Western Oklahoma  
The Central National Bank of Alva  

SBA Lenders for Alva Businesses

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

Small Business Bank Recent SBA Loans
Acb Bank
Cherokee, OK
1
Bank Of America
Charlotte, NC
1
Business Loan Center, LLC
Panama City Beach, FL
2
Comerica Bank
Dallas, TX
1

Alva Bank Loan Tips

Before meeting with banks for a loan, you will need to develop the specifics of your loan request.

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 plan to pay the money back to the bank.

A well-defined business plan is is critically important. If the bank loan 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 your individual retirement account or pension plan. 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 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 planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Borrowing Money from Friends and Family.

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