Groves, Texas Business Loan

Local Groves Banks

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

SBA Lenders for Groves Businesses

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

Groves Business Loan Advice

Before contacting lenders for a 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 how you plan to pay the loan back to the lender.

Having a business plan is is critically important. If the financing 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 to guarantee the loan with your personal assets, such as the equity in your home. The banks will look at your personal credit report 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. 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

If you are new to our Gaebler.com site, you should know that we are passionate about supporting small business owners, and we have a lot of information pertaining to to Raising Money. For example, we would suggest you read Attracting Investors.