Loan Census Banking News and Information
December 18, 2024  
 
 
  Business Loan Information  
 

Business Loan Salida, Colorado

 
Loan Census SBA Loan Info

Getting a business loan in Salida, Colorado seems challenging at first, but we're here to help you get started.

This article is written specifically for small business proprietors in Salida, Colorado who are interested in getting a bank loan.

Local Salida Banks

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

Small Business Bank Recent SBA Loans
Bank of the West - Branch Locations- Salida  
Collegiate Peaks Bank 1
Community Banks - Colorado D/b 1
High Country Bank  
Pueblo Bank & Trust 3

Lenders for Salida Businesses

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

Small Business Bank Recent SBA Loans
California Bank & Trust
Sacramento, CA
1
Capital One
Mclean, VA
1
Citizens National Bank - Texas
Waxahachie, TX
1
Premier Bank
Denver, CO
1
United Western Bank
Denver, CO
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Zions First National Bank
West Valley City, UT
1

Tips for Getting a Business Loan in Salida

As a prerequisite to reaching out to banks 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 your ability to pay the loan back to the bank.

Having a business plan is essential. If the bank loan is to for an existing business, you should also have financial statements covering the last three years. You will also need to discuss 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 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 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 assisting small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.

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