Business Loan Mazon, Illinois

Local Mazon Business Lenders

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

Other Lending Resources for Mazon Businesses

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

Tips for Getting a Business Loan in Mazon

Prior to meeting with banks for a loan, you will need to have a specific plan.

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 how you plan to pay the money back to the bank.

A well-defined business plan is is critically important. If the money is to for a company that is already doing 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, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. 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 are SBA lenders. Before meeting with the banker, you may want to read up on 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

If you are new to our Gaebler.com site, you should know that we are passionate about helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. If raising money is on your to-do list, we would suggest you read 504 Loans.