Tukwila, Washington Small Business Loans

Local Tukwila Lending Resources

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

Business Loan Providers for Tukwila Businesses

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

Tukwila Bank Loan Tips

As a prerequisite to contacting lenders 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Having a business plan is essential. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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. 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 all about helping small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Only Idiots Send Venture Capitalists Business Plans.