Loan Census Banking News and Information
April 15, 2021  
 
 
  Business Loan Information  
 

La Palma, California Business Loan

 
Loan Census SBA Loan Info

Looking for a La Palma, California small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for entrepreneurs in La Palma, California who are interested in getting a small business loan.

Local La Palma Business Loan Sources

To assist you in finding a small business banker, here's our list of small business banks in La Palma.

Small Business Bank Recent SBA Loans
Bank Of America  
California Bank & Trust - Branch Offices- LA Palma  

Lenders for La Palma Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
6
California Bank & Trust
Sacramento, CA
2
California Bank & Trust
San Diego, CA
1
Capital One Bank (usa)
Glen Allen, VA
1
Comerica Bank
Dallas, TX
1
Gateway Business Bank
Cerritos, CA
1
Hanmi Bank
Los Angeles, CA
1
Innovative Bank
Oakland, CA
3
National Bank Of California
Los Angeles, CA
1
Pacific Western Bank
Escondido, CA
1
U.S. Bank National Association
Cincinnati, OH
1
Union Bank Of California
San Francisco, CA
1
Wells Fargo Bank
San Jose, CA
2
Wilshire State Bank
Los Angeles, CA
2

La Palma Business Loan Advice

Before reaching out to 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, define how the money will be used, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the money 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, 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

Our Gaebler.com site is passionate about aiding small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, we would suggest you read Business Line of Credit.

Business Loan Sources for Other Cities in California
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