If you are hoping to get a small business loan and your business is based in Olivehurst, California, we've assembled a list of local small business banks that you should contact.
Lenders for Olivehurst Businesses
This is a list of banks outside of Olivehurst, California that have provided SBA loans to Olivehurst businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Olivehurst Businesses
Prior to contacting lenders to get a bank 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, define how the money will be used, and show your ability to pay the loan back to the lender.
Being able to present a well-written business plan is is critically important. If the money 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 guarantee 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 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 are SBA lenders. Prior to visiting local banks, 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 devoted to aiding entrepreneurs, and we have a
lot of resources related to to Raising
Money. If you want to learn about raising money, we would suggest you read 504 Loans.
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