If you are hoping to get a small business loan and your business is based in Cornville, Arizona, we've assembled a list of local small business banks that you should contact.
Lenders for Cornville Businesses
This is a list of banks outside of Cornville, Arizona that have provided SBA loans to Cornville businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Cornville Businesses
Prior to contacting banks for a 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, define how the money will be used, and show how you intend to to pay the loan back to the bank.
A well-defined business plan is essential. 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 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, 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 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
If you are new to our Gaebler.com site, you should know that we are deeply committed to aiding small business owners, and we have a
lot of useful articles about to Raising
Money. For example, one article that might be of interest to you is Angel Investors.
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