Trophy Club, Texas Business Loan

Local Trophy Club Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Trophy Club.

Banks that Lend to Trophy Club Businesses

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

Trophy Club Business Loan Advice

Prior 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 introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.

A well-defined business plan is essential. If the financing is to for an existing business, 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 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.

Gaebler.com Advice on Raising Money

Gaebler.com is a site that is dedicated to providing advice to small business owners, and we have a lot of information pertaining to to Raising Money. To learn more, we would suggest you read Investor Turnoffs.