Lewiston, Michigan Small Business Loans

Local Lewiston Lenders

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

Banks that Lend to Lewiston Businesses

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

Lewiston Bank Loan Tips

As a prerequisite to contacting 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

Having a business plan is essential. If the capital is to for a company that is already doing business, 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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 all about supporting small business owners, and we have a lot of information pertaining to to Raising Money. To learn more, we recommend you read Business Cash Advances.