Loan Census Banking News and Information
April 23, 2021  
 
 
  Business Loan Information  
 

Business Loan Prescott Valley, Arizona

 
Loan Census SBA Loan Info

Getting a business loan in Prescott Valley, Arizona seems challenging at first, but we're here to help you get started.

These materials were prepared for small business proprietors in Prescott Valley, Arizona who are interested in getting debt financing.

Local Prescott Valley Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Prescott Valley.

Small Business Bank Recent SBA Loans
Arizona Business Bank  
Bank Of America  
Compass Bank  
Summit Bank  
The Stockmen's Bank  
Wells Fargo Bank NA  

Business Loan Providers for Prescott Valley Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
5
Capital One
Mclean, VA
2
Cit Small Business Lending Corp
Livingston, NJ
1
Innovative Bank
Oakland, CA
1
Jpmorgan Chase Bank
Houston, TX
11
M&i Marshall & Ilsley Bank
Milwaukee, WI
2
Pacific Cap. Bank
Santa Barbara, CA
1
U.S. Bank National Association
Cincinnati, OH
2
Wells Fargo Bank
Phoenix, AZ
1
Wells Fargo Bank
San Jose, CA
1
Wells Fargo Bank
Sioux Falls, SD
1

Tips for Getting a Business Loan in Prescott Valley

Prior to contacting banks for a 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan with 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 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Microlending as a Small Business Funding Source.

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