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

Monterey, California Business Loan

 
Loan Census SBA Loan Info

Looking for a Monterey, California small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business proprietors in Monterey, California who are interested in getting debt financing.

Local Monterey Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Monterey.

Small Business Bank Recent SBA Loans
Bank Of America  
Monterey County Bank 198

Banks that Lend to Monterey Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
12
California Bank & Trust
Sacramento, CA
3
Capital One
Mclean, VA
7
Cit Small Business Lending Corp
Livingston, NJ
2
Citibank
San Francisco, CA
1
Comerica Bank
Dallas, TX
5
Community Bank - Cent. Californi
Salinas, CA
17
County Bank
Merced, CA
1
Greater Bay Bank
Palo Alto, CA
1
Heritage Bank Of Commerce
San Jose, CA
7
Innovative Bank
Oakland, CA
1
Nara Bank
Los Angeles, CA
3
Pacific Cap. Bank
Santa Barbara, CA
9
South Valley National Bank A Divis
Gilroy, CA
4
Wachovia SBA Lending, Inc.
Roseville, CA
2
Washington Mutual Bank
Henderson, NV
4
Wells Fargo Bank
San Jose, CA
6
Wells Fargo Bank
Sioux Falls, SD
5

Monterey Business Loan Advice

As a prerequisite to reaching out to banks to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Having a business plan is essential. 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 guarantee the loan. Collateral is relevant because banks always want to be prepared for a worst-case scenario in which you cannot repay the loan.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 the banks in our list are SBA lenders. Before you sit down to talk with a small business 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

Invest the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Incubators.

Business Loan Sources for Other Cities in California
Get a Business Loan in Montebello
Get a Business Loan in Monterey Park

Browse All Business Loan Sources for California