Small Business Lenders in Kentwood, Michigan

Local Kentwood Business Lenders

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

Lenders for Kentwood Businesses

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

Business Loan Advice for Kentwood Businesses

As a prerequisite to reaching out to lenders to get 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, the bank may ask you to 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 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

If you are new to our Gaebler.com site, you should know that we are deeply committed to aiding entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read 504 Loans.