Glenpool, Oklahoma Business Loan

Local Glenpool Business Loan Sources

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

Lenders for Glenpool Businesses

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

Glenpool Business Loan Advice

Prior to contacting banks to discuss getting 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for a going concern, 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 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 are SBA lenders. Prior to visiting local banks, 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

Gaebler.com is a site that is passionate about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read 504 Loans.