If you are looking for a small business loan and your business is based in Croswell, Michigan, we've assembled a list of local small business banks that you should contact.
Local Croswell Business Loan Sources
To assist you in finding a small business banker, here's our list of small business banks in Croswell.
Small Business Bank |
Recent SBA Loans |
Citizens First - Croswell Branch- Branch Offices- Croswell |
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Eastern Michigan Bank |
4 |
First Citizens Savings Bank |
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Business Loan Providers for Croswell Businesses
This is a list of banks outside of Croswell, Michigan that have provided SBA loans to Croswell businesses. Some of these may be national banks with local branch locations.
Croswell Bank Loan Tips
Before contacting banks for a loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the bank.
Having a business plan is is critically important. If the 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 you cannot repay the loan.
If the business has few assets, you will likely be asked to secure the business with 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. Prior to visiting local banks, 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
If you are planning on Raising
Money, you need to educate yourself. If you haven't read it
already, we recommend you review
504 Loans.
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