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March 28, 2024  
 
 
  Business Loan Information  
 

Geronimo, Oklahoma Small Business Loans

 
Loan Census SBA Loan Info

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

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

Business Loan Providers for Geronimo Businesses

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

Small Business Bank Recent SBA Loans
Bancfirst
Oklahoma City, OK
1

Geronimo Bank Loan Tips

As a prerequisite to contacting banks to get 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.

Being able to present a well-written business plan is an important prerequisite. If the capital 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 secure the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

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 you sit down to talk with a small business 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Line of Credit.

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