Merced, California Small Business Loans

Local Merced Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Merced.

Banks that Lend to Merced Businesses

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

Merced Bank Loan Tips

As a prerequisite to reaching out to lenders to get 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the capital is to for an existing business, 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 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 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. Before meeting with the banker, 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

Our Gaebler.com site is passionate about helping small business owners, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read 504 Loans.