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

Magalia, California Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Magalia, California, we've put together a list of local small business banks that you should contact.

Local Magalia Banks

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

Small Business Bank Recent SBA Loans
Butte Community Bank  

Business Loan Providers for Magalia Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Bank Of The West
Truckee, CA
1
Borrego Springs Bank
Borrego Springs, CA
1
Butte Community Bank
Oroville, CA
3
Capital One Bank (usa)
Glen Allen, VA
1
Wells Fargo Bank
San Jose, CA
2

Magalia Bank Loan Tips

Before meeting with 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. 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, 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 the banks in our list participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to read up on 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 dedicated to providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, we recommend you read Realistic Debt Financing Options.

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