Cottage Grove, Minnesota Business Loan

Looking for a Cottage Grove, Minnesota small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business owners in Cottage Grove, Minnesota who are interested in getting a small business loan.

Local Cottage Grove Lending Resources

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

Small Business Bank	Recent SBA Loans
Coldwell Banker Burnet-The Rollands
Guaranty Bank
Merchants Bank	1
TCF Bank
U S Bank - Branch Offices- Cottage Grove- Cottage Grove MN Office
Wells Fargo Bank NA

SBA Lenders for Cottage Grove Businesses

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

Small Business Bank	Recent SBA Loans
Anchor Bank Wayzata, MN	1
Anchor Bank Saint Paul Apple Valley, MN	1
Anchor Bank Saint Paul Saint Paul, MN	3
Associated Bank Minneapolis, MN	3
Bremer Bank Saint Louis Park, MN	1
Capital One Mclean, VA	3
Cit Small Business Lending Corp Livingston, NJ	2
Gateway Bank Mendota Heights, MN	1
Kleinbank Burnsville, MN	1
Landmark Commun Bank Isanti, MN	3
M&i Marshall & Ilsley Bank Milwaukee, WI	3
Merchants Bank Hampton, MN	5
North American Banking Company Hastings, MN	1
North American Banking Company Roseville, MN	1
Park Midway Bank Saint Paul, MN	2
Peoples Bank Of Commerce Cambridge, MN	1
U.S. Bank National Association Cincinnati, OH	10
U.S. Bank National Association San Diego, CA	1
University Finan Corp. Dba Sun Saint Paul, MN	1
Wells Fargo Bank Minneapolis, MN	3
Wells Fargo Bank San Jose, CA	8
Wells Fargo Bank Sioux Falls, SD	3

Cottage Grove Business Loan Advice

Before 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the loan is to for a company that is already doing 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 you cannot repay the loan.

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 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Credit Evaluation.

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