This article is written specifically for entrepreneurs in Plymouth, California who are interested in getting a small business loan.
Local Plymouth Lenders
Without further adieu, here's our list of small business banks in Plymouth.
|Small Business Bank
||Recent SBA Loans
|Bank of Lodi
Lenders for Plymouth Businesses
This is a list of banks outside of Plymouth, California that have provided SBA loans to Plymouth businesses. Some of these may be national banks with local branch locations.
Plymouth Business Loan Advice
Prior to meeting with 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 intend to to pay the loan back to the bank.
A well-defined business plan is is critically important. If the bank loan 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, 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 look at your personal credit report 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 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
Invest the time to learn as much as you can about Raising
Money. To get started, we recommend you read
Getting a Small Business Loan.
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