If you are looking for a small business loan and your business is based in Crestone, Colorado, we've assembled a list of local small business banks that you should contact.
Business Loan Providers for Crestone Businesses
This is a list of banks outside of Crestone, Colorado that have provided SBA loans to Crestone businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Crestone Businesses
Before meeting with 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 explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.
Having a business plan is essential. If the money is to for a company that is already doing business, 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 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. Prior to visiting local banks, you may want to get up to speed 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 deeply committed to helping entrepreneurs, and we have a
lot of resources related to to Raising
Money. To learn more, one article that might be of interest to you is Business Line of Credit.
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