This article is written specifically for small business proprietors in Temple City, California who are interested in getting debt financing.
Local Temple City Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Temple City.
|Small Business Bank
||Recent SBA Loans
|Adding Financial Inc
|Bank Of America
|Bank of East Asia USA
|Bank of the West - Branch Locations- Temple City
|United Commercial Bank
Lenders for Temple City Businesses
This is a list of banks outside of Temple City, California that have provided SBA loans to Temple City businesses. Some of these may be national banks with local branch locations.
Tips for Getting a Business Loan in Temple City
As a prerequisite to contacting banks to discuss getting 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 your ability to pay the money back to the bank.
Having a business plan is essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to secure 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 the equity in your home. 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 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
If you are new to our Gaebler.com site, you should know that we are all about helping small business owners, and we have a
lot of resources related to to Raising
Money. For example, we recommend you read 504 Loans.
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