If you are hoping to get a small business loan and your business is based in Cambridge City, Indiana, we've assembled a list of local small business banks that you should contact.
Local Cambridge City Lenders
To assist you in finding a small business banker, here's our list of small business banks in Cambridge City.
Small Business Bank |
Recent SBA Loans |
First Bank Richmond - Cambridge City Branch |
|
Mainsource Bank |
|
Wayne Bank And Trust Co. |
11 |
Lenders for Cambridge City Businesses
This is a list of banks outside of Cambridge City, Indiana that have provided SBA loans to Cambridge City businesses. Some of these may be national banks with local branch locations.
Business Loan Advice for Cambridge City 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, define how the money will be used, and show how you plan to pay the loan back to the bank.
Being able to present a well-written business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee 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 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 meeting with the banker, you may want to do your homework 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
Make the effort and learn as much as you can about Raising
Money. To get the ball rolling, we recommend you read
Business Credit Evaluation.
Business Loan Sources for Other Cities in Indiana
Get a Business Loan in Brownsburg
Get a Business Loan in Carmel
Browse All Business Loan Sources for Indiana