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

Mounds, Oklahoma Business Loan

 
Loan Census SBA Loan Info

Raising money in Mounds, Oklahoma? If so, you'll want to talk to some of these small business lenders in Mounds.

These materials were prepared for small business proprietors in Mounds, Oklahoma who are interested in getting a bank loan.

Local Mounds Lending Resources

Without further adieu, here's our list of small business banks in Mounds.

Small Business Bank Recent SBA Loans
American Heritage Bank  

SBA Lenders for Mounds Businesses

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

Small Business Bank Recent SBA Loans
Onb Bank And Trust Company
Tulsa, OK
1

Mounds Business Loan Advice

Prior to reaching out to lenders to discuss getting a bank loan, you will need to have a specific plan.

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

Having a business plan is essential. If the bank loan is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to to pledge 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 the banks in our list participate in the financial assistance programs available through the SBA. 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

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