Business Loan Lake Station, Indiana

Local Lake Station Banks

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

Lenders for Lake Station Businesses

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

Tips for Getting a Business Loan in Lake Station

As a prerequisite to meeting with lenders to discuss getting a bank 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, define how the money will be used, and show your ability to pay the loan back to the lender.

Having a business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 to guarantee the loan 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 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 passionate about supporting entrepreneurs, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is Getting a Small Business Loan.