We wrote this article for small business owners in Holbrook, Arizona who are interested in getting debt financing.
Local Holbrook Business Loan Sources
To help you learn more about local small business lenders, here's our list of small business banks in Holbrook.
|Small Business Bank
|Recent SBA Loans
|Community First Bank
|Wells Fargo Bank NA - Branch Offices- Holbrook
SBA Lenders for Holbrook Businesses
This is a list of banks outside of Holbrook, Arizona that have provided SBA loans to Holbrook businesses. Some of these may be national banks with local branch locations.
Holbrook Business Loan Advice
Before contacting banks for a loan, you will need to develop the specifics of your loan request.
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 intend to to pay the money back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the bank loan is to for an existing business, 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 secure the business 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 the banks in our list 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
Invest the time to learn as much as you can about Raising
Money. To get the ball rolling, we recommend you read
How Much Venture Capital Is There?.
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