If you are hoping to get a small business loan and your business is based in Round Mountain, California, we've assembled a list of local small business banks that you should contact.
Lenders for Round Mountain Businesses
This is a list of banks outside of Round Mountain, California that have provided SBA loans to Round Mountain businesses. Some of these may be national banks with local branch locations.
Round Mountain Bank Loan Tips
As a prerequisite to reaching out to lenders to discuss getting 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, define how the money will be used, and show how you plan to pay the money back to the lender.
Being able to present a well-written business plan is essential. If the 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 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. Before meeting with the banker, you may want to do your homework 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 new to our Gaebler.com site, you should know that we are devoted to aiding small business owners, and we have a
lot of resources related to to Raising
Money. For example, one article that might be of interest to you is Getting a Small Business Loan.
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