Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Berlin, Wisconsin Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Berlin, Wisconsin seems challenging at first, but we're here to help you get started.

We wrote this article for entrepreneurs in Berlin, Wisconsin who are interested in getting debt financing.

Local Berlin Lenders

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

Small Business Bank Recent SBA Loans
1st National Bank - Berlin 12
Anchorbank  
Bank Mutual  
Baylake Bank Financial Centers - Berlin Financial Center  
Farmers & Merchants Bank  
First Berlin Bancorp Inc 1
First National Bank  
First NATL Bank of Berlin - Banking  

Other Lending Resources for Berlin Businesses

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

Small Business Bank Recent SBA Loans
Associated Bank
Green Bay, WI
2
Baylake Bank
Sturgeon Bay, WI
1
Green Lake State Bank
Green Lake, WI
2
Hometown Bank
Fond Du Lac, WI
3

Berlin Business Loan Advice

Before contacting banks 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 explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is is critically important. If the loan is to for an existing 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 pledge 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, 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 dedicated to helping 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 504 Loans.

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