Business Loan Goose Lake, Iowa

Local Goose Lake Business Lenders

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

Other Lending Resources for Goose Lake Businesses

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

Tips for Getting a Business Loan in Goose Lake

Prior to meeting with banks to discuss getting 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, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the money 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, you will likely be asked to secure the business with 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 read up on 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

Gaebler.com is a site that is passionate about assisting small business owners, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Microlending as a Small Business Funding Source.