We wrote this article for entrepreneurs in Avilla, Indiana who are interested in getting a bank loan.
Local Avilla Business Lenders
Without further adieu, here's our list of small business banks in Avilla.
Small Business Bank |
Recent SBA Loans |
Community State Bank |
|
Other Lending Resources for Avilla Businesses
This is a list of banks outside of Avilla, Indiana that have provided SBA loans to Avilla businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Ncb, FSB
Hillsboro, OH |
1 |
Tips for Getting a Business Loan in Avilla
Prior to reaching out to banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.
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 your ability to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. 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, you will likely be asked to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 passionate about supporting entrepreneurs, and we have a
lot of useful articles about to Raising
Money. To learn more, one article that might be of interest to you is Business Line of Credit.
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