Loan Census Banking News and Information
August 4, 2021  
 
 
  Business Loan Information  
 

Small Business Lenders in Pismo Beach, California

 
Loan Census SBA Loan Info

I need a loan for my business in Pismo Beach, California! If that's what's on your mind, you've come to the right place.

If you are planning on applying for a small business loan and your business is based in Pismo Beach, California, we've put together a list of local small business banks that you should contact.

Local Pismo Beach Banks

Without further adieu, here's our list of small business banks in Pismo Beach.

Small Business Bank Recent SBA Loans
Bank Of America  

Other Lending Resources for Pismo Beach Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
First Bank - San Luis Obispo A D
San Luis Obispo, CA
2
Hanmi Bank
Los Angeles, CA
1
Mission Community Bank
San Luis Obispo, CA
1
Rabobank, National Association
Arroyo Grande, CA
5
Rabobank, National Association
Santa Maria, CA
2

Business Loan Advice for Pismo Beach Businesses

As a prerequisite to contacting 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 explain your business, explain how much you want to borrow, define how the money will be used, and show how you plan to pay the loan back to the bank.

Having a 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. 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, the bank may ask you to 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to get up to speed 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 assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Business Line of Credit.

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