Loan Census Banking News and Information
April 20, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Mecca, California

 
Loan Census SBA Loan Info

Small business loans in Mecca, California are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Mecca, California, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Mecca Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Wells Fargo Bank
Carlsbad, CA
2
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Mecca Businesses

As a prerequisite to contacting lenders to get a bank loan, you will need to have a specific plan.

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.

Being able to present a well-written business plan is an important prerequisite. If the financing is to for a going concern, 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as the equity in your home. 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. Before meeting with the banker, 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 passionate about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.

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