If you are planning on applying for a small business loan and your business is based in Paradise Valley, Arizona, we've assembled a list of local small business banks that you should contact.
Local Paradise Valley Banks
To help you learn more about local small business lenders, here's our list of small business banks in Paradise Valley.
|Small Business Bank
|Recent SBA Loans
|Alliance Bank of Arizona
|Harris Trust Bank of Arizona - Corporate Office
|Ironstone Bank - Office- Seville Shopping Center
|Washington Federal Savings - Paradise Valley
|Washington Mutual - Home Loan Centers- Scottsdale
|Wells Fargo Home Mortgage - Scottsdale
Other Lending Resources for Paradise Valley Businesses
This is a list of banks outside of Paradise Valley, Arizona that have provided SBA loans to Paradise Valley businesses. Some of these may be national banks with local branch locations.
Paradise Valley Bank Loan Tips
Before reaching out to lenders for a 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 how you intend to to pay the money back to the lender.
Being able to present a well-written business plan is an important prerequisite. 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 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 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 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 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
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