If you are planning on applying for a small business loan and your business is based in Cutler, California, we've put together a list of local small business banks that you should contact.
Banks that Lend to Cutler Businesses
This is a list of banks outside of Cutler, California that have provided SBA loans to Cutler businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Cutler Businesses
Before meeting with lenders 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.
A well-defined business plan is an important prerequisite. 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 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, you will likely be asked to to guarantee the loan 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, 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
Our Gaebler.com site is dedicated to providing advice to small business owners, and we have a
lot of resources related to to Raising
Money. For example, we would suggest you read How Much Venture Capital Is There?.
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