If you are planning on applying for a small business loan and your business is based in Huachuca City, Arizona, we've put together a list of local small business banks that you should contact.
SBA Lenders for Huachuca City Businesses
This is a list of banks outside of Huachuca City, Arizona that have provided SBA loans to Huachuca City businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Huachuca City Businesses
Prior to reaching out to banks to discuss getting a bank loan, you will need to have a specific plan.
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.
Having a business plan is is critically important. If the bank loan is to for a company that is already doing business, 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 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 the equity in your home. 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 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
Our Gaebler.com site is dedicated to aiding entrepreneurs, and we have a
lot of information pertaining to to Raising
Money. If raising money is on your to-do list, one article that might be of interest to you is 504 Loans.
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