Linden, Indiana Business Loan

Local Linden Lending Resources

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

Other Lending Resources for Linden Businesses

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

Linden Business Loan Advice

Prior to meeting with banks 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 bank.

A well-defined business plan is an important prerequisite. If the financing is to for a company that is already doing business, 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 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

Our Gaebler.com site is deeply committed to assisting small business owners, and we have a lot of resources related to to Raising Money. To learn more, we would suggest you read Bank Credit Lines.