Loan Census Banking News and Information
April 15, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in California City, California

 
Loan Census SBA Loan Info

Raising money in California City, California? If so, you'll want to talk to some of these small business lenders in California City.

If you are planning on applying for a small business loan and your business is based in California City, California, we've put together a list of local small business banks that you should contact.

Banks that Lend to California City Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Borrego Springs Bank
Borrego Springs, CA
1
California Bank & Trust
Sacramento, CA
2
Commonwealth Business Bank
Los Angeles, CA
1
Mojave Desert Bank
Mojave, CA
2

Business Loan Advice for California City Businesses

Prior to meeting with banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the financing 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. 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 the banks in our list participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read Choosing VC Firms.

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