Business Loan Logan, Kansas

Local Logan Business Lenders

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

SBA Lenders for Logan Businesses

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

Tips for Getting a Business Loan in Logan

Before reaching out to banks for a loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the bank loan 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 guarantee 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 the equity in your home. 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 are SBA lenders. Prior to visiting local banks, you may want to get up to speed 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 aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Attracting Investors.