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.
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.
Business Loan Sources for Other Cities in California
Get a Business Loan in Mckinleyville
Get a Business Loan in Menlo Park
Browse All Business Loan Sources for California