These materials were prepared for entrepreneurs in Hallsville, Missouri who are interested in getting a small business loan.
Local Hallsville Business Lenders
To help you learn more about local small business lenders, here's our list of small business banks in Hallsville.
Small Business Bank |
Recent SBA Loans |
Boone County National Bank |
|
Banks that Lend to Hallsville Businesses
This is a list of banks outside of Hallsville, Missouri that have provided SBA loans to Hallsville businesses. Some of these may be national banks with local branch locations.
Hallsville Business Loan Advice
Prior to contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.
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 how you intend to to pay the money back to the bank.
A well-defined business plan is an important prerequisite. If the money is to for an existing business, 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 pledge 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 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
Our Gaebler.com site is dedicated to supporting entrepreneurs, and we have a
lot of resources related to to Raising
Money. If you want to learn about raising money, we would suggest you read 504 Loans.
More Business Loan Info for Missouri
Get a Business Loan in Grandview
Get a Business Loan in Hannibal
Browse All Business Loan Sources for Missouri