Aztec, New Mexico Business Loan

Local Aztec Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Aztec.

Banks that Lend to Aztec Businesses

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

Aztec Business Loan Advice

Before reaching out to banks for a loan, you will need to develop the specifics of your loan request.

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 intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 your individual retirement account or pension plan. 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 do your homework 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 devoted to supporting small business owners, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is How Much Venture Capital Is There?.