If you are looking for a small business loan and your business is based in Claypool, Arizona, we've assembled a list of local small business banks that you should contact.
SBA Lenders for Claypool Businesses
This is a list of banks outside of Claypool, Arizona that have provided SBA loans to Claypool businesses. Some of these may be national banks with local branch locations.
Claypool Bank Loan Tips
As a prerequisite to meeting with banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 pledge your personal assets, such as your individual retirement account or pension plan. 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 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
Gaebler.com is a site that is devoted to providing advice to small business owners, and we have a
lot of information pertaining to to Raising
Money. To learn more, we would suggest you read 504 Loans.
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