Loan Census Banking News and Information
December 23, 2024  
 
 
  Business Loan Information  
 

Ophir, Colorado Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Ophir, Colorado! If that's what's on your mind, you've come to the right place.

These materials were prepared for small business proprietors in Ophir, Colorado who are interested in getting debt financing.

Other Lending Resources for Ophir Businesses

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

Small Business Bank Recent SBA Loans
Alpine Bank
Telluride, CO
1

Ophir Business Loan Advice

As a prerequisite to meeting with 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, 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 financing is to for a company that is already doing 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 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review How Much Venture Capital Is There?.

Business Loan Sources for Other Cities in Colorado
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