Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Denver City, Texas

 
Loan Census SBA Loan Info

Getting a business loan in Denver City, Texas seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Denver City, Texas, we've assembled a list of local small business banks that you should contact.

Local Denver City Lending Resources

To help you learn more about local small business lenders, here's our list of small business banks in Denver City.

Small Business Bank Recent SBA Loans
Sundown State Bank 1

Lenders for Denver City Businesses

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

Small Business Bank Recent SBA Loans
First United Bank
Dimmitt, TX
1
First United Bank
Seagraves, TX
1
Lea County State Bank
Hobbs, NM
2
The First National Bank
Artesia, NM
1
Wells Fargo Bank
San Jose, CA
1
Western Commerce Bank
Carlsbad, NM
2

Business Loan Advice for Denver City Businesses

Prior to reaching out to 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 how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the financing 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 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 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 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.

Gaebler.com Advice on Raising Money

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Getting a Small Business Loan.

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