Small Business Lenders in Culdesac, Idaho

Local Culdesac Lending Resources

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

SBA Lenders for Culdesac Businesses

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

Business Loan Advice for Culdesac Businesses

As a prerequisite to contacting 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, 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 essential. If the bank loan 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 guarantee 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 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 read up on 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

Gaebler.com is a site that is all about assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is 504 Loans.