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

Small Business Lenders in Luther, Oklahoma

 
Loan Census SBA Loan Info

Raising money in Luther, Oklahoma? If so, you'll want to talk to some of these small business lenders in Luther.

If you are looking for a small business loan and your business is based in Luther, Oklahoma, we've assembled a list of local small business banks that you should contact.

Local Luther Business Lenders

Without further adieu, here's our list of small business banks in Luther.

Small Business Bank Recent SBA Loans
First Bank & Trust CO Luther Branch  
First Bank & Trust Luther Branch  

Lenders for Luther Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
1
Jpmorgan Chase Bank
Houston, TX
1

Business Loan Advice for Luther Businesses

As a prerequisite to contacting banks to get 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, describe what the money will finance, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 pledge 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 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.

Gaebler.com Advice on Raising Money

Our Gaebler.com site is devoted to assisting small business owners, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Find Start-Up Capital.

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