If you are hoping to get a small business loan and your business is based in Belen, New Mexico, we've put together a list of local small business banks that you should contact.
Local Belen Banks
To assist you in finding a small business banker, here's our list of small business banks in Belen.
Small Business Bank |
Recent SBA Loans |
AG New Mexico FCS ACA |
|
Bank of Belen - Anytime Bankline |
|
Bank of Belen - Belen Office |
|
Bank of Belen - Bookkeeping |
|
First Community Bank |
4 |
First State Bank - Los Lunas- Belen |
|
My Bank |
19 |
Ranchers Bank - Rio Communities |
|
Ranchers Banks |
|
Wells Fargo Bank NA |
|
Other Lending Resources for Belen Businesses
This is a list of banks outside of Belen, New Mexico that have provided SBA loans to Belen businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Belen Businesses
Prior to contacting lenders to get a bank loan, you will need to have a specific plan.
You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.
Being able to present a well-written business plan is essential. If the bank loan 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 secure the business 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 meeting with the banker, 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.
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already, we recommend you review
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