This article is written specifically for small business owners in Ash Fork, Arizona who are interested in getting a bank loan.
SBA Lenders for Ash Fork Businesses
This is a list of banks outside of Ash Fork, Arizona that have provided SBA loans to Ash Fork businesses. Some of these may be national banks with local branch locations.
Ash Fork Business Loan Advice
Before meeting with 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, describe what the money will finance, and show your ability to pay the loan back to the bank.
Being able to present a well-written business plan is is critically important. If the money is to for a going concern, 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 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 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. Prior to visiting local banks, 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 deeply committed to providing advice to small business owners, and we have a
lot of resources related to to Raising
Money. If you want to learn about raising money, we would suggest you read 504 Loans.
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