Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Business Loan Freeburg, Illinois

 
Loan Census SBA Loan Info

I need a loan for my business in Freeburg, Illinois! If that's what's on your mind, you've come to the right place.

These materials were prepared for small business owners in Freeburg, Illinois who are interested in getting a small business loan.

Local Freeburg Business Lenders

To assist you in finding a small business banker, here's our list of small business banks in Freeburg.

Small Business Bank Recent SBA Loans
Citizens Community Bank  
Commercial State Bank  

Other Lending Resources for Freeburg Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Commerce Bank
Kansas City, MO
3
First National Bank - Waterloo
Columbia, IL
2
U.S. Bank National Association
Cincinnati, OH
2

Tips for Getting a Business Loan in Freeburg

Prior to reaching out to lenders for a loan, you will need to develop the specifics of your loan request.

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 your ability to pay the loan back to the lender.

Being able to present a well-written 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 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, you will likely be asked to secure the business with your personal assets, such as your individual retirement account or pension plan. 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 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 Borrowing Money from Friends and Family.

Business Loan Sources for Other Cities in Illinois
Get a Business Loan in Franklin Park
Get a Business Loan in Freeport

Browse All Business Loan Sources for Illinois