Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Coalinga, California

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Coalinga, California, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Coalinga Businesses

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

Small Business Bank Recent SBA Loans
Alliance Bank
Culver City, CA
1
Bank Of The Sierra
Porterville, CA
2
Capital One
Mclean, VA
2
Pacific Western Bank
Escondido, CA
1
United Security Bank
Fresno, CA
1

Business Loan Advice for Coalinga Businesses

Prior to contacting banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 intend to to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to 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 the banks in our list are SBA lenders. Before meeting with the banker, you may want to do your homework 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 all about assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Bank Credit Lines.

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