Kalkaska, Michigan Business Loan

Local Kalkaska Lenders

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

Other Lending Resources for Kalkaska Businesses

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

Kalkaska Business Loan Advice

Prior to contacting lenders 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the money is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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, you will likely be asked to secure the business with 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. Prior to visiting local banks, 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 all about providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is 504 Loans.