These materials were prepared for entrepreneurs in Lockeford, California who are interested in getting debt financing.
Local Lockeford Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Lockeford.
|Small Business Bank
||Recent SBA Loans
|Bank of the West
Other Lending Resources for Lockeford Businesses
This is a list of banks outside of Lockeford, California that have provided SBA loans to Lockeford businesses. Some of these may be national banks with local branch locations.
Lockeford Business Loan Advice
Prior to reaching out to 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 explain your business, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. If the 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, the bank may ask you to to secure the business with 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 participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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 new to our Gaebler.com site, you should know that we are all about helping small business owners, and we have a
lot of information pertaining to to Raising
Money. For example, we would suggest you read 504 Loans.
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