Loan Census Banking News and Information
November 21, 2024  
 
 
  Business Loan Information  
 

Eldon, Missouri Small Business Loans

 
Loan Census SBA Loan Info

Getting a business loan in Eldon, Missouri seems challenging at first, but we're here to help you get started.

If you are planning on applying for a small business loan and your business is based in Eldon, Missouri, we've assembled a list of local small business banks that you should contact.

Local Eldon Business Lenders

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

Small Business Bank Recent SBA Loans
Central Bank of Lake of the Ozarks  
Citizens Bank of Eldon  

Other Lending Resources for Eldon Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
2
Central Bank - Lake - Ozarks
Osage Beach, MO
7
Exch National Bank - Jefferson City
Jefferson City, MO
1
First National Bank
Camdenton, MO
1
Jefferson Bank Of Missouri
Jefferson City, MO
1
Regions Bank
Columbia, MO
2
Regions Bank
Memphis, TN
1
The Central Trust Bank
Jefferson City, MO
2
U.S. Bank National Association
Cincinnati, OH
2

Eldon Bank Loan Tips

As a prerequisite to contacting lenders for a 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 your ability to pay the loan back to the lender.

Having a business plan is is critically important. If the capital 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 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 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 meeting with the banker, 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read Find Start-Up Capital.

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