If you are hoping to get a small business loan and your business is based in Fairfax, California, we've assembled a list of local small business banks that you should contact.
Local Fairfax Lending Resources
To help you learn more about local small business lenders, here's our list of small business banks in Fairfax.
|Small Business Bank
||Recent SBA Loans
|Bank Of America
Business Loan Providers for Fairfax Businesses
This is a list of banks outside of Fairfax, California that have provided SBA loans to Fairfax businesses. Some of these may be national banks with local branch locations.
Fairfax Bank Loan Tips
As a prerequisite to contacting banks for a loan, you will need to have a specific plan.
You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.
Being able to present a well-written business plan is an important prerequisite. 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 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, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. 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.
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