Mankato, Minnesota Small Business Loans

I need a loan for my business in Mankato, Minnesota! If that's what's on your mind, you've come to the right place.

If you are looking for a small business loan and your business is based in Mankato, Minnesota, we've put together a list of local small business banks that you should contact.

Local Mankato Business Loan Sources

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

Small Business Bank	Recent SBA Loans
Century 21st Bank
Citizens Community Federal
Community Bank Vernon Center	15
Community Mortgage
First Federal
First National Bank Minnesota	22
Minnstar Bank NA
Nelson Marlow W.
Northern Star Bank	1
Olson Mark A
Progrowth Bank	2
Security State Bank of Mankato
TCF Bank
U S Bank - Branch Offices- Mankato- Madison East Office
U S Bank - Branch Offices- Mankato- Mankato Office
Valley Bank - Mankato Branch
Voyager Bank
Wells Fargo Bank	1

Lenders for Mankato Businesses

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

Small Business Bank	Recent SBA Loans
21st Century Bank Loretto, MN	1
Bank Of The West Salt Lake City, UT	1
Bremer Bank South Saint Paul, MN	1
Capital One Mclean, VA	1
Cit Small Business Lending Corp Livingston, NJ	2
Community Bank Muscatine, IA	1
Community Bank Vernon Center Vernon Center, MN	16
Elysian Bank Elysian, MN	3
First National Bank Sioux City, IA	1
First National Bank Minnesota Saint Peter, MN	1
Kleinbank Norwood Young America, MN	1
Minnstar Bank Lake Crystal, MN	4
Pioneer Bank North Mankato, MN	3
Progrowth Bank Nicollet, MN	1
Stearns Bank Saint Cloud, MN	1
U.S. Bank National Association Cincinnati, OH	17
United Prairie Bank Mountain Lake, MN	3
United Prairie Bank New Ulm, MN	1
United Prairie Bank Owatonna, MN	1
Valley Bank Waterville, MN	2
Voyager Bank Eden Prairie, MN	10
Wells Fargo Bank Minneapolis, MN	8
Wells Fargo Bank San Jose, CA	10
Wells Fargo Bank Sioux Falls, SD	3

Mankato Bank Loan Tips

Before reaching out to banks to get a bank 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Having a business plan is is critically important. If the loan is to for an existing 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 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 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. Before you sit down to talk with a small business banker, 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Getting a Small Business Loan.

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