Loan Census Banking News and Information
July 2, 2022  
  Business Loan Information  

Business Loan Sun Lakes, Arizona

Loan Census SBA Loan Info

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

We wrote this article for entrepreneurs in Sun Lakes, Arizona who are interested in getting a small business loan.

Local Sun Lakes Business Lenders

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

Small Business Bank Recent SBA Loans
Bank Of America  

Other Lending Resources for Sun Lakes Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
First National Bank Of Arizona
Scottsdale, AZ
Greater Bay Bank
Palo Alto, CA

Tips for Getting a Business Loan in Sun Lakes

Before reaching out to lenders to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the lender.

A well-defined business plan is is critically important. If the loan is to for a company that is already doing 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 to guarantee the loan with your personal assets, such as the equity in your home. 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 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. Advice on Raising Money

Our site is passionate about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, we would suggest you read 504 Loans.

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