Mineral Point, Wisconsin Business Loan

Local Mineral Point Business Loan Sources

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

SBA Lenders for Mineral Point Businesses

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

Mineral Point Business Loan Advice

Before contacting banks for a 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.

Having a business plan is essential. If the loan is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 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 do your homework 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 dedicated to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is Getting a Small Business Loan.