Small Business Lenders in Cheney, Kansas

Local Cheney Lending Resources

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

Other Lending Resources for Cheney Businesses

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

Business Loan Advice for Cheney Businesses

As a prerequisite to reaching out to banks to get a bank loan, you will need to have a specific plan.

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

A well-defined business plan is is critically important. If the money is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 pledge your personal assets, such as the equity in your home. 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

Our Gaebler.com site is devoted to assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.