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March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Petersburg, Texas

 
Loan Census SBA Loan Info

Small business loans in Petersburg, Texas are available. You just need to talk to the right bank.

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

Business Loan Providers for Petersburg Businesses

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

Small Business Bank Recent SBA Loans
First State Bank
Abernathy, TX
2

Tips for Getting a Business Loan in Petersburg

As a prerequisite to reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Having a business plan is essential. If the capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. 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 all about helping entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, we recommend you read Business Credit Evaluation.

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