Business Loan Hastings, Minnesota

Raising money in Hastings, Minnesota? If so, you'll want to talk to some of these small business lenders in Hastings.

We wrote this article for small business owners in Hastings, Minnesota who are interested in getting a bank loan.

Local Hastings Lenders

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

Small Business Bank	Recent SBA Loans
Baker Yvonne A
Blue Cross and Blue Shield of Minnesota
First National Bank	5
Merchants Bank	9
Midcountry Bank
North American Banking Company	3
Premier Banks
Vermillion State Bank
Wells Fargo Bank NA - Office Locations- Hastings

SBA Lenders for Hastings Businesses

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

Small Business Bank	Recent SBA Loans
1st National Bank In Cannon Falls Cannon Falls, MN	1
Anchor Bank Wayzata, MN	3
Associated Bank Eagan, MN	1
Associated Bank Green Bay, WI	2
Associated Bank Minneapolis, MN	2
Banco Popular North America New York City, NY	2
Capital One Mclean, VA	2
Cit Small Business Lending Corp Livingston, NJ	1
Community Resource Bank Northfield, MN	1
Fidelity Bank Edina, MN	3
Highland Bank Maple Grove, MN	2
Highland Bank Saint Michael, MN	3
Innovative Bank Oakland, CA	2
Merchants Bank Apple Valley, MN	1
Merchants Bank Cottage Grove, MN	1
Merchants Bank Hampton, MN	10
North American Banking Company Roseville, MN	3
Peoples Bank Of Commerce Cambridge, MN	1
Peoples Bank Of Commerce Saint Paul, MN	1
Prosperan Bank Oakdale, MN	3
Superior Financial Group, LLC Walnut Creek, CA	1
Tcf National Bank Edina, MN	1
U.S. Bank National Association Cincinnati, OH	4
U.S. Bank National Association San Diego, CA	1
Vermillion State Bank Vermillion, MN	3
Wells Fargo Bank Minneapolis, MN	2
Wells Fargo Bank San Jose, CA	3

Tips for Getting a Business Loan in Hastings

Before contacting banks for a 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 your ability to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss what collateral you have available to secure 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 these banks 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 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 useful articles about to Raising Money. For example, we would suggest you read Angel Investors.

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