Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Hayfork, California Small Business Loans

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Hayfork, California, we've assembled a list of local small business banks that you should contact.

Business Loan Providers for Hayfork Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Umpqua Bank
Roseville, CA
3

Hayfork Bank Loan Tips

As a prerequisite to 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan 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. In addition, you should itemize 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 these banks participate in the financial assistance programs available through the SBA. 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read 504 Loans.

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