Business Loan Rancho Santa Margarita, California

Local Rancho Santa Margarita Lenders

To assist you in finding a small business banker, here's our list of small business banks in Rancho Santa Margarita.

Lenders for Rancho Santa Margarita Businesses

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

Tips for Getting a Business Loan in Rancho Santa Margarita

Before meeting with banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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

A well-defined 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. 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 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 the banks in our list participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to do your homework 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 dedicated to providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we recommend you read Angel Investors.