Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Whitesboro, Texas Small Business Loans

 
Loan Census SBA Loan Info

Looking for a Whitesboro, Texas 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 planning on applying for a small business loan and your business is based in Whitesboro, Texas, we've put together a list of local small business banks that you should contact.

Local Whitesboro Business Loan Sources

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

Small Business Bank Recent SBA Loans
American Bank of Texas  

Lenders for Whitesboro Businesses

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

Small Business Bank Recent SBA Loans
Jpmorgan Chase Bank
Houston, TX
1

Whitesboro Bank Loan Tips

As a prerequisite to reaching out to banks to get 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.

Being able to present a well-written business plan is is critically important. If the capital 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 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 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 participate in the financial assistance programs available through the SBA. Before meeting with the 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

More Business Loan Info for Texas
Get a Business Loan in Wharton
Get a Business Loan in Wichita Falls

Browse All Business Loan Sources for Texas