Loan Census Banking News and Information
November 21, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Nevada, Iowa

 
Loan Census SBA Loan Info

Getting a business loan in Nevada, Iowa seems challenging at first, but we're here to help you get started.

If you are planning on applying for a small business loan and your business is based in Nevada, Iowa, we've assembled a list of local small business banks that you should contact.

Local Nevada Lending Resources

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

Small Business Bank Recent SBA Loans
Community Bank 4
First Federal Savings Bank  
River Valley Credit Union  
State Bank & Trust Co. 3
U S Bank - Branch Offices- Nevada- Nevada Office  

Lenders for Nevada Businesses

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

Small Business Bank Recent SBA Loans
Ames Community Bank
Ames, IA
1
Capital One
Mclean, VA
1
Green Belt Bank & Trust
Iowa Falls, IA
1

Business Loan Advice for Nevada Businesses

As a prerequisite to reaching out to banks to get 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 an important prerequisite. If the capital 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 secure 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 to guarantee the loan 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 these banks 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 serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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