Loan Census Banking News and Information
May 25, 2022  
 
 
  Business Loan Information  
 

Cortez, Colorado Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Cortez, Colorado small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Cortez, Colorado, we've put together a list of local small business banks that you should contact.

Local Cortez Business Lenders

Without further adieu, here's our list of small business banks in Cortez.

Small Business Bank Recent SBA Loans
Cit. St. Bank - Cortez 5
Citizens State Bank of Cortez  
Community Banks of the Rockies  
First National Bank Cortez  
Summit Lending  
Vectra Bank Colorado  

Other Lending Resources for Cortez Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - Durango
Durango, CO
4
Bank Of The San Juans
Durango, CO
1
Business Lenders, LLC
Hartford, CT
1
California Bank & Trust
Sacramento, CA
1
Capital One
Mclean, VA
2
Cit Small Business Lending Corp
Livingston, NJ
1
Community Banks Of Colorado
Dove Creek, CO
1
First Southwest Bank
Alamosa, CO
1
Greater Bay Bank
Palo Alto, CA
1
United Midwest Savings Bank
De Graff, OH
1
Vectra Bank Colorado
Farmington, NM
1
Wells Fargo Bank
Minneapolis, MN
2
Wells Fargo Bank
San Jose, CA
1

Cortez Bank Loan Tips

Before meeting with 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the loan is to for a company that is already doing business, 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 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

Our Gaebler.com site is deeply committed to aiding small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.

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