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March 28, 2024  
 
 
  Business Loan Information  
 

Soap Lake, Washington Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business owners in Soap Lake, Washington who are interested in getting debt financing.

SBA Lenders for Soap Lake Businesses

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

Small Business Bank Recent SBA Loans
Banner Bank
Wenatchee, WA
1
Metro City Bank
Doraville, GA
1
Washington Mutual Bank
Henderson, NV
1
Zions First National Bank
West Valley City, UT
1

Soap Lake Business Loan Advice

As a prerequisite to contacting banks for a loan, you will need to develop the specifics of your loan request.

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.

Being able to present a well-written business plan is essential. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. You will also need to discuss 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 to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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