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March 29, 2024  
 
 
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Small Business Lenders in Foxfield, Colorado

 
Loan Census SBA Loan Info

Raising money in Foxfield, Colorado? If so, you'll want to talk to some of these small business lenders in Foxfield.

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

SBA Lenders for Foxfield Businesses

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

Small Business Bank Recent SBA Loans
Nara Bank
Los Angeles, CA
1

Business Loan Advice for Foxfield Businesses

As a prerequisite to 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 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.

A well-defined business plan is essential. If the money 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 to guarantee the loan with 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on 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 get up to speed on the subject. If you haven't read it already, we recommend you review Bank Credit Lines.

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