Business Loan Grandville, Michigan

Local Grandville Banks

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

Other Lending Resources for Grandville Businesses

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

Tips for Getting a Business Loan in Grandville

Prior to meeting with banks to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the capital 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. 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 these banks 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

Gaebler.com is a site that is devoted to assisting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read SBIR Funding.