Bartonville, Illinois Small Business Loans

Local Bartonville Lenders

Without further adieu, here's our list of small business banks in Bartonville.

Business Loan Providers for Bartonville Businesses

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

Bartonville Bank Loan Tips

Before meeting with banks for a 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, describe what the money will finance, and show your ability to pay the money back to the bank.

A well-defined business plan is essential. If the financing 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 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 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 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 dedicated to providing advice to small business owners, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is 504 Loans.