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May 19, 2024  
 
 
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Business Loan West Point, California

 
Loan Census SBA Loan Info

Raising money in West Point, California? If so, you'll want to talk to some of these small business lenders in West Point.

This article is written specifically for small business proprietors in West Point, California who are interested in getting a bank loan.

Other Lending Resources for West Point Businesses

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

Small Business Bank Recent SBA Loans
American River Bank
Jackson, CA
1

Tips for Getting a Business Loan in West Point

As a prerequisite 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

Having a business plan is is critically important. If the financing 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. 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 get up to speed on the subject. If you haven't read it already, we recommend you review Choosing VC Firms.

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