If you are hoping to get a small business loan and your business is based in Villa Park, California, we've assembled a list of local small business banks that you should contact.
Local Villa Park Lenders
To assist you in finding a small business banker, here's our list of small business banks in Villa Park.
Small Business Bank |
Recent SBA Loans |
Bank Of America |
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Lenders for Villa Park Businesses
This is a list of banks outside of Villa Park, California that have provided SBA loans to Villa Park businesses. Some of these may be national banks with local branch locations.
Villa Park Bank Loan Tips
Prior to meeting with 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.
Having a business plan is is critically important. If the money 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 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 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 the banks in our list 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
If you are serious about Raising
Money, you need to educate yourself. If you haven't read it
already, we recommend you review
504 Loans.
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