Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Coalville, Utah Business Loan

 
Loan Census SBA Loan Info

Small business loans in Coalville, Utah are available. You just need to talk to the right bank.

These materials were prepared for small business proprietors in Coalville, Utah who are interested in getting debt financing.

Business Loan Providers for Coalville Businesses

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

Small Business Bank Recent SBA Loans
Mountain America Fcu
West Jordan, UT
4
Zions First National Bank
Salt Lake City, UT
2
Zions First National Bank
West Valley City, UT
4

Coalville Business Loan Advice

As a prerequisite to reaching out to banks for a 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Having a business plan is essential. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 secure the business with your personal assets, such as your individual retirement account or pension plan. 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 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

If you are new to our Gaebler.com site, you should know that we are dedicated to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read Realistic Debt Financing Options.

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