Glasgow, Missouri Business Loan

Local Glasgow Business Loan Sources

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

SBA Lenders for Glasgow Businesses

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

Glasgow Business Loan Advice

Prior to meeting with banks 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, define how the money will be used, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 the banks in our list are SBA lenders. Prior to visiting local banks, 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

Our Gaebler.com site is dedicated to aiding small business owners, and we have a lot of information pertaining to to Raising Money. For example, we would suggest you read Bank Credit Lines.