Small Business Lenders in Clear Lake, Wisconsin

Local Clear Lake Business Loan Sources

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

Lenders for Clear Lake Businesses

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

Business Loan Advice for Clear Lake Businesses

Before contacting banks for a loan, you will need to have a specific plan.

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 how you plan to pay the loan back to the bank.

A well-defined business plan is essential. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 the equity in your home. 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 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.

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