Business Loan Cashmere, Washington

Local Cashmere Business Loan Sources

Without further adieu, here's our list of small business banks in Cashmere.

Other Lending Resources for Cashmere Businesses

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

Tips for Getting a Business Loan in Cashmere

Before contacting banks for a 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 intend to to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the money is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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.

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Make the effort and learn as much as you can about Raising Money. For starters, we recommend you read Bank Credit Lines.