Loan Census Banking News and Information
May 19, 2024  
 
 
  Business Loan Information  
 

South San Gabriel, California Small Business Loans

 
Loan Census SBA Loan Info

Looking for a South San Gabriel, California small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Lenders for South San Gabriel Businesses

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

Small Business Bank Recent SBA Loans
Inland Commun Bank
Duarte, CA
1
Small Business Loan Source LLC
Houston, TX
1

South San Gabriel Bank Loan Tips

Prior to meeting with 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 how you plan to pay the loan back to the bank.

A well-defined business plan is an important prerequisite. If the loan is to for a company that is already doing 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 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 the banks in our list are SBA lenders. Before meeting with the banker, 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

Our Gaebler.com site is all about providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. To learn more, we would suggest you read 504 Loans.

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