Gallatin, Missouri Business Loan

Local Gallatin Business Lenders

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

Other Lending Resources for Gallatin Businesses

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

Gallatin Business Loan Advice

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

Having a business plan is an important prerequisite. If the capital is to for an existing business, 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 cash flow from the business does not meet your projections.

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 you sit down to talk with a small business banker, you may want to get up to speed 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 new to our Gaebler.com site, you should know that we are devoted to providing advice to small business owners, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.