Loan Census Banking News and Information
December 4, 2023  
  Business Loan Information  

Cudahy, California Business Loan

Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Cudahy, California who are interested in getting debt financing.

Lenders for Cudahy Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
San Francisco, CA
Hanmi Bank
Los Angeles, CA
Innovative Bank
Oakland, CA
Spectrum Bank
Irvine, CA
U.S. Bank National Association
Cincinnati, OH
Wilshire State Bank
Los Angeles, CA

Cudahy Business Loan Advice

Prior to reaching out to banks to get a bank 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, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

A well-defined business plan is is critically important. If the money is to for a company that is already doing business, 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, you will likely be asked 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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. Advice on Raising Money

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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