Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Miles City, Montana Business Loan

 
Loan Census SBA Loan Info

Small business loans in Miles City, Montana are available. You just need to talk to the right bank.

These materials were prepared for small business owners in Miles City, Montana who are interested in getting a small business loan.

Local Miles City Lending Resources

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

Small Business Bank Recent SBA Loans
First Interstate Bank 1
Stockman Bank Of Montana 75
U S Bank - Branch Offices- Miles City Office  

Business Loan Providers for Miles City Businesses

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

Small Business Bank Recent SBA Loans
First Interstate Bank
Billings, MT
4
U.S. Bank National Association
Cincinnati, OH
1

Miles City Business Loan Advice

Before contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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 how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the bank loan is to for a going concern, 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 pledge your personal assets, such as your individual retirement account or pension plan. 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. Before you sit down to talk with a small business 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Realistic Debt Financing Options.

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