Loan Census Banking News and Information
July 24, 2021  
  Business Loan Information  

Kamiah, Idaho Business Loan

Loan Census SBA Loan Info

Small business loans in Kamiah, Idaho are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Kamiah, Idaho who are interested in getting a small business loan.

Local Kamiah Banks

To help you learn more about local small business lenders, here's our list of small business banks in Kamiah.

Small Business Bank Recent SBA Loans
Wells Fargo Bank Northwest NA - Kamiah Office  

Banks that Lend to Kamiah Businesses

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

Small Business Bank Recent SBA Loans
D. L. Evans Bank
Burley, ID
Wells Fargo Bank
San Jose, CA

Kamiah Business Loan Advice

As a prerequisite to contacting banks for a loan, you will need to determine exactly what size loan you will be asking for.

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 your ability to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the financing is to for an existing business, 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. 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. Advice on Raising Money

If you are planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Attracting Investors.

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