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

Myrtle Point, Oregon Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Myrtle Point, Oregon, we've assembled a list of local small business banks that you should contact.

Local Myrtle Point Banks

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

Small Business Bank Recent SBA Loans
Security Bank  
Umpqua Bank - Myrtle Point  
Washington Mutual - Bank Locations- Myrtle Point  

Lenders for Myrtle Point Businesses

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

Small Business Bank Recent SBA Loans
Umpqua Bank
Roseburg, OR
2
Wells Fargo Bank
San Jose, CA
1

Myrtle Point Bank Loan Tips

Before reaching out to banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the bank loan is to for an existing 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 the banks in our list are SBA lenders. Before you sit down to talk with a small business banker, you may want to read up on 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Getting a Small Business Loan.

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