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

Deer Trail, Colorado Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Deer Trail, Colorado are available. You just need to talk to the right bank.

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

Lenders for Deer Trail Businesses

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

Small Business Bank Recent SBA Loans
U.S. Bank National Association
Cincinnati, OH
3

Deer Trail Bank Loan Tips

Before contacting lenders to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

Having a business plan is is critically important. If the financing is to for an existing 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, the bank may ask you to to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

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