Santa Fe, Texas Business Loan

Local Santa Fe Business Loan Sources

Without further adieu, here's our list of small business banks in Santa Fe.

Lenders for Santa Fe Businesses

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

Santa Fe Business Loan Advice

As a prerequisite to contacting banks to get 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. If the financing 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 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, the bank may ask you to to to guarantee the loan 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 are SBA lenders. 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.

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