These materials were prepared for entrepreneurs in Bisbee, Arizona who are interested in getting debt financing.
Local Bisbee Banks
Without further adieu, here's our list of small business banks in Bisbee.
|Small Business Bank
||Recent SBA Loans
|Bank Of America
|National Bank of Arizona Bisbee
Banks that Lend to Bisbee Businesses
This is a list of banks outside of Bisbee, Arizona that have provided SBA loans to Bisbee businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Bisbee
Before reaching out to lenders for a 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, define how the money will be used, and show your ability to pay the loan back to the lender.
A well-defined business plan is is critically important. If the 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 stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Before meeting with the 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.
Gaebler.com Advice on Raising Money
If you are serious about Raising
Money, you need to educate yourself. If you haven't read it
already, we recommend you review
Business Line of Credit.
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