Small Business Lenders in Andover, Minnesota

Small business loans in Andover, Minnesota are available. You just need to talk to the right bank.

If you are planning on applying for a small business loan and your business is based in Andover, Minnesota, we've put together a list of local small business banks that you should contact.

Local Andover Banks

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

Small Business Bank	Recent SBA Loans
1st Regents Bank	3
1st Regions Bank
Community Pride Bank
Financial Diversified Services Inc
U S Bank - Andover Office- Branch Offices- Andover
Wells Fargo Home Mortgage

Other Lending Resources for Andover Businesses

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

Small Business Bank	Recent SBA Loans
1st National Bank - Elk River Anoka, MN	1
1st National Bank - Elk River Elk River, MN	1
Bremer Bank South Saint Paul, MN	1
Capital One Mclean, VA	2
Capital One Bank (usa) Glen Allen, VA	1
Central Bank Coon Rapids, MN	2
Cit Small Business Lending Corp Livingston, NJ	1
Community Pride Bank Isanti, MN	1
Community Resource Bank Roseville, MN	1
Eastbank Minneapolis, MN	1
First Minnesota Bank Minnetonka, MN	1
First National Bank - Lakes Minneapolis, MN	1
Home Federal Savings Bank Rochester, MN	1
M&i Marshall & Ilsley Bank Milwaukee, WI	2
Mainstreet Bank Forest Lake, MN	1
Park Midway Bank Saint Paul, MN	1
Signature Bank Minnetonka, MN	1
Small Business Loan Source LLC Houston, TX	1
Tcf Foundation Minneapolis, MN	1
Tcf National Bank Edina, MN	1
Teacher Fcu Plymouth, MN	1
The Bank Of Elk River Elk River, MN	1
U.S. Bank National Association Cincinnati, OH	26
U.S. Bank National Association San Diego, CA	1
Venture Bank Bloomington, MN	1
Wells Fargo Bank Rogers, MN	1
Wells Fargo Bank San Jose, CA	7
Wells Fargo Bank Sioux Falls, SD	1

Business Loan Advice for Andover Businesses

Prior to meeting with banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Having a business plan is essential. If the capital is to for an existing business, 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, the bank may ask you to to to guarantee the loan with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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 all about assisting entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, we recommend you read 504 Loans.

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