Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Las Animas, Colorado Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Las Animas, Colorado seems challenging at first, but we're here to help you get started.

We wrote this article for small business proprietors in Las Animas, Colorado who are interested in getting a small business loan.

Local Las Animas Business Loan Sources

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

Small Business Bank Recent SBA Loans
First National Bank - Las Animas 2
First National Bank of Las Animas  

Business Loan Providers for Las Animas Businesses

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

Small Business Bank Recent SBA Loans
Superior Financial Group, LLC
Walnut Creek, CA
1

Las Animas Business Loan Advice

Prior to contacting 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, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

Having a business plan is an important prerequisite. If the loan 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 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 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

Gaebler.com is a site that is all about supporting small business owners, and we have a lot of resources related to to Raising Money. To learn more, we would suggest you read Getting a Small Business Loan.

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