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March 28, 2024  
 
 
  Business Loan Information  
 

Business Loan Itasca, Texas

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Itasca, Texas who are interested in getting debt financing.

Business Loan Providers for Itasca Businesses

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

Small Business Bank Recent SBA Loans
Compass Bank
Fort Worth, TX
1
Millennium State Bank Of Texas
Dallas, TX
1
United Central Bank
Garland, TX
1

Tips for Getting a Business Loan in Itasca

Before reaching out to banks to get a bank loan, you will need to have a specific plan.

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.

A well-defined business plan is essential. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 secure the business 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 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Find Start-Up Capital.

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