If you are hoping to get a small business loan and your business is based in Creve Coeur, Illinois, we've assembled a list of local small business banks that you should contact.
Other Lending Resources for Creve Coeur Businesses
This is a list of banks outside of Creve Coeur, Illinois that have provided SBA loans to Creve Coeur businesses. Some of these may be national banks with local branch locations.
Creve Coeur Bank Loan Tips
Prior to 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, define how the money will be used, and show how you plan to pay the loan back to the bank.
A well-defined business plan is an important prerequisite. If the financing is to for an existing business, 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 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 are SBA lenders. 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.
Gaebler.com Advice on Raising Money
Gaebler.com is a site that is all about supporting entrepreneurs, and we have a
lot of resources related to to Raising
Money. For example, one article that might be of interest to you is 504 Loans.
Business Loan Sources for Other Cities in Illinois
Get a Business Loan in Crete
Get a Business Loan in Crystal Lake
Browse All Business Loan Sources for Illinois