Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Mexia, Texas Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Mexia, Texas seems challenging at first, but we're here to help you get started.

This article is written specifically for small business proprietors in Mexia, Texas who are interested in getting debt financing.

Business Loan Providers for Mexia Businesses

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

Small Business Bank Recent SBA Loans
Amer Bank
Waco, TX
1
Jpmorgan Chase Bank
Houston, TX
1
Sterling Bank
Humble, TX
1
Wachovia SBA Lending, Inc.
Roseville, CA
1

Mexia Business Loan Advice

As a prerequisite to contacting lenders for a loan, you will need to develop the specifics of your loan request.

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.

Having a business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee 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 your individual retirement account or pension plan. 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. 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

Make the effort and learn as much as you can about Raising Money. For starters, we suggest you read How to Raise Money.

Business Loan Sources for Other Cities in Texas
Get a Business Loan in Mesquite
Get a Business Loan in Midland

Browse All Business Loan Sources for Texas