Business Loan Yucaipa, California

Local Yucaipa Business Loan Sources

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

Banks that Lend to Yucaipa Businesses

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

Tips for Getting a Business Loan in Yucaipa

As a prerequisite to contacting lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 your ability to pay the money back to the lender.

Having a business plan is an important prerequisite. If the loan is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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, you will likely be asked to pledge 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. Before you sit down to talk with a small business banker, 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 new to our Gaebler.com site, you should know that we are deeply committed to assisting entrepreneurs, and we have a lot of information pertaining to to Raising Money. If you want to learn about raising money, we would suggest you read Getting a Small Business Loan.