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

Business Loan Bear River City, Utah

 
Loan Census SBA Loan Info

Small business loans in Bear River City, Utah are available. You just need to talk to the right bank.

These materials were prepared for small business owners in Bear River City, Utah who are interested in getting a bank loan.

Business Loan Providers for Bear River City Businesses

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

Small Business Bank Recent SBA Loans
Mountain America Fcu
West Jordan, UT
1
Zions First National Bank
West Valley City, UT
2

Tips for Getting a Business Loan in Bear River City

Prior to meeting with banks to get a bank 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the loan is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, you will likely be asked 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 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

Our Gaebler.com site is devoted to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read Bank Credit Lines.

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