If you are hoping to get a small business loan and your business is based in Marshalltown, Iowa, we've assembled a list of local small business banks that you should contact.
Local Marshalltown Lenders
To assist you in finding a small business banker, here's our list of small business banks in Marshalltown.
Banks that Lend to Marshalltown Businesses
This is a list of banks outside of Marshalltown, Iowa that have provided SBA loans to Marshalltown businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Bank Of America
Charlotte, NC |
1 |
Business Loan Center, LLC
New York, NY |
1 |
Capital One
Mclean, VA |
1 |
Charter Bank
Johnston, IA |
1 |
Fidelity Information Services
West Des Moines, IA |
1 |
First American Bank
Fort Dodge, IA |
2 |
First State Bank, Conrad, Iowa
Conrad, IA |
1 |
Home Federal Savings Bank
Rochester, MN |
2 |
U.S. Bank National Association
Cincinnati, OH |
1 |
Wells Fargo Bank
Minneapolis, MN |
1 |
Wells Fargo Bank
San Jose, CA |
4 |
Marshalltown Bank Loan Tips
As a prerequisite to contacting banks to discuss getting 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.
A well-defined business plan is essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 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
Take the time to learn as much as you can about Raising
Money. To get started, we recommend you read
Borrowing Money from Friends and Family.
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