Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Live Oak, California Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Live Oak, California seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Live Oak, California, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Live Oak Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Pacific Western Bank
Escondido, CA
1
Temecula Valley Bank
Temecula, CA
1
Wells Fargo Bank
San Jose, CA
1

Live Oak Bank Loan Tips

Prior to contacting lenders for a loan, you will need to determine exactly what size loan you will be asking for.

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 lender.

A well-defined business plan is an important prerequisite. If the capital is to for an existing 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 are SBA lenders. Before meeting with the 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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