Loan Census Banking News and Information
October 7, 2024  
 
 
  Business Loan Information  
 

Business Loan Montrose, Colorado

 
Loan Census SBA Loan Info

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

We wrote this article for small business proprietors in Montrose, Colorado who are interested in getting a bank loan.

Local Montrose Business Lenders

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

Small Business Bank Recent SBA Loans
Alpine Bank 3
Bank of the West  
First National Bank  
First Western Mortgage Services DVSN of Wststr BNK - Montrose-Main  
Invest Financial Corporation  
Mobile Mortgage Co  
Montrose Bank 5
Montrosebank  
Nuvista Fcu 1
U.S. Bank National Association 4
United Bank  
Vectra Bank Colorado  
Wells Fargo Bank NA - Montrose  

Business Loan Providers for Montrose Businesses

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

Small Business Bank Recent SBA Loans
Alpine Bank
Telluride, CO
2
Bank Of Colorado
Delta, CO
1
Bank Of Colorado
Olathe, CO
1
Bank Of The West
Salt Lake City, UT
6
Bizcapital Bidco Ii, LLC
New Orleans, LA
1
California Bank & Trust
Sacramento, CA
5
Capital One
Mclean, VA
7
Cit Small Business Lending Corp
Livingston, NJ
4
Comerica Bank
Dallas, TX
1
First State Bank Of Hotchkiss
Hotchkiss, CO
3
Innovative Bank
Oakland, CA
2
U.S. Bank National Association
Cincinnati, OH
2
United Western Bank
Denver, CO
1
Vectra Bank Colorado
Farmington, NM
2
Wachovia SBA Lending, Inc.
Roseville, CA
2
Wells Fargo Bank
Denver, CO
1
Wells Fargo Bank
Minneapolis, MN
3
Wells Fargo Bank
San Jose, CA
12
Wells Fargo Bank
Sioux Falls, SD
1

Tips for Getting a Business Loan in Montrose

Before reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

Having a business plan is an important prerequisite. If the capital is to for a going concern, 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, you will likely be asked to secure the business with 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 you sit down to talk with a small business banker, you may want to get up to speed 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 devoted to supporting small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is 504 Loans.

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