This article is written specifically for small business proprietors in Nice, California who are interested in getting a small business loan.
SBA Lenders for Nice Businesses
This is a list of banks outside of Nice, California that have provided SBA loans to Nice businesses. Some of these may be national banks with local branch locations.
Nice Business Loan Advice
Prior to contacting 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, define how the money will be used, and show how you plan to pay the money back to the lender.
Having a business plan is an important prerequisite. If the capital 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 cash flow from the business does not meet your projections.
If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. 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 participate in the financial assistance programs available through the SBA. Before meeting with the 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
Gaebler.com is a site that is dedicated to providing advice to entrepreneurs, and we have a
lot of resources related to to Raising
Money. For example, we would suggest you read Choosing VC Firms.
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