Business Loan Montrose, Colorado

Local Montrose Business Lenders

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

Business Loan Providers for Montrose Businesses

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

Tips for Getting a Business Loan in Montrose

Before reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.

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 how you plan to pay the money back to the bank.

Having a business plan is an important prerequisite. If the capital is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 your individual retirement account or pension plan. 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 are SBA lenders. Before you sit down to talk with a small business 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

If you are new to our Gaebler.com site, you should know that we are devoted to supporting small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is 504 Loans.