Small Business Lenders in Shallowater, Texas

Local Shallowater Banks

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

Business Loan Providers for Shallowater Businesses

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

Business Loan Advice for Shallowater Businesses

Before reaching out to lenders to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 lender.

Being able to present a well-written business plan is is critically important. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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

Gaebler.com is a site that is passionate about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Getting a Small Business Loan.