Business Loan Lakeview, Michigan

Local Lakeview Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Lakeview.

Lenders for Lakeview Businesses

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

Tips for Getting a Business Loan in Lakeview

Before meeting with banks to get 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, describe what the money will finance, and show how you intend to to pay the money back to the bank.

A well-defined business plan is is critically important. If the capital 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 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 look at your personal credit report 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. 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

Our Gaebler.com site is devoted to supporting entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, we would suggest you read 504 Loans.