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April 15, 2021  
 
 
  Business Loan Information  
 

Business Loan Foresthill, California

 
Loan Census SBA Loan Info

I need a loan for my business in Foresthill, California! If that's what's on your mind, you've come to the right place.

This article is written specifically for small business proprietors in Foresthill, California who are interested in getting a small business loan.

Lenders for Foresthill Businesses

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

Small Business Bank Recent SBA Loans
Comerica Bank
Dallas, TX
1
U.S. Bank National Association
Cincinnati, OH
1
Umpqua Bank
Roseburg, OR
1
Wells Fargo Bank
San Jose, CA
1

Tips for Getting a Business Loan in Foresthill

Before meeting with banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the bank loan 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 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. Before meeting with the banker, you may want to do your homework 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 504 Loans.

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