Loan Census Banking News and Information
May 22, 2024  
 
 
  Business Loan Information  
 

Solvang, California Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Solvang, California, we've put together a list of local small business banks that you should contact.

Local Solvang Lenders

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

Small Business Bank Recent SBA Loans
Bankers Alliance Mortgage  
Los Padres Bank 2

SBA Lenders for Solvang Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Comerica Bank
Dallas, TX
1
Community W. Bank
Goleta, CA
3
Compass Bank
Birmingham, AL
1
Hanmi Bank
Los Angeles, CA
1
Heritage Bank Of Commerce
San Jose, CA
2
Innovative Bank
Oakland, CA
1
Montecito Bank & Trust
Santa Barbara, CA
4
Pacific Cap. Bank
Santa Barbara, CA
2
Rabobank, National Association
Arroyo Grande, CA
3
Union Bank Of California
San Francisco, CA
1
Washington Mutual Bank
Henderson, NV
1
Wells Fargo Bank
San Jose, CA
2
Wells Fargo Bank
Sioux Falls, SD
1

Solvang Bank Loan Tips

Prior to contacting banks 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 explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the bank loan is to for a going concern, 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 you cannot repay the loan.

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 participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Angel Investors.

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