La Verne, California Business Loan

Local La Verne Business Lenders

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

Other Lending Resources for La Verne Businesses

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

La Verne Business Loan Advice

Before reaching out to lenders for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the money back to the lender.

A well-defined business plan is essential. If the financing is to for a going concern, 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 pledge 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Our Gaebler.com site is all about providing advice to 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 Getting a Small Business Loan.