Menomonie, Wisconsin Business Loan

Local Menomonie Lending Resources

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

Business Loan Providers for Menomonie Businesses

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

Menomonie Business Loan Advice

Before meeting with lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.

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 your ability to pay the loan back to the lender.

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. In addition, you should itemize 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, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. Prior to visiting local banks, 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

Gaebler.com is a site that is passionate about aiding entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we would suggest you read 504 Loans.