If you are planning on applying for a small business loan and your business is based in Los Alamos, New Mexico, we've put together a list of local small business banks that you should contact.
Local Los Alamos Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Los Alamos.
Small Business Bank |
Recent SBA Loans |
Community Bank |
|
First National Bank of Santa Fe |
|
Los Alamos National Bank |
19 |
Wells Fargo Bank NA |
|
ZIA Credit Union |
|
Lenders for Los Alamos Businesses
This is a list of banks outside of Los Alamos, New Mexico that have provided SBA loans to Los Alamos businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Los Alamos Businesses
Before meeting with banks to get 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.
Having a business plan is is critically important. If the money 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 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 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 are SBA lenders. 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
Invest the time to learn as much as you can about Raising
Money. To get the ball rolling, we recommend you read
Angel Investors.
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