Small Business Lenders in Dunseith, North Dakota

Local Dunseith Lending Resources

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

Lenders for Dunseith Businesses

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

Business Loan Advice for Dunseith Businesses

As a prerequisite to 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, describe what the money will finance, and show how you plan to pay the loan back to the bank.

A well-defined business plan is is critically important. If the money is to for an existing 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, 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 these banks 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

Our Gaebler.com site is devoted to helping small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Business Credit Evaluation.