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

Edgewood, Texas Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Edgewood, Texas small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Business Loan Providers for Edgewood Businesses

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

Small Business Bank Recent SBA Loans
Cit Small Business Lending Corp
Livingston, NJ
1
Franklin Bank S.s.b.
Canton, TX
1

Edgewood Bank Loan Tips

Before meeting with lenders to discuss getting 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, define how the money will be used, and show how you plan to pay the money back to the lender.

A well-defined business plan is essential. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 pledge 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 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Realistic Debt Financing Options.

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