Small Business Lenders in Westville, Oklahoma

Local Westville Business Loan Sources

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

Lenders for Westville Businesses

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

Business Loan Advice for Westville Businesses

Before contacting banks to discuss getting 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, walk the banker through the planned use of proceeds, 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 a company that is already doing business, 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 secure the business 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. Before you sit down to talk with a small business 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

Our Gaebler.com site is deeply committed to supporting small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, we recommend you read Choosing VC Firms.