This article is written specifically for small business owners in Cabazon, California who are interested in getting debt financing.
Business Loan Providers for Cabazon Businesses
This is a list of banks outside of Cabazon, California that have provided SBA loans to Cabazon businesses. Some of these may be national banks with local branch locations.
Cabazon Business Loan Advice
Before meeting with banks for a loan, you will need to have a specific plan.
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 plan to pay the money back to the bank.
Being able to present a well-written business plan is is critically important. If the financing 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 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 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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
Our Gaebler.com site is deeply committed to helping small business owners, and we have a
lot of useful articles about to Raising
Money. If raising money is on your to-do list, we recommend you read Business Line of Credit.
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