Schneider, Indiana Small Business Loans

SBA Lenders for Schneider Businesses

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

Schneider Bank Loan Tips

Prior to reaching out to lenders to discuss getting a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the lender.

Having a business plan is an important prerequisite. If the loan is to for an existing 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 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

If you are planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Line of Credit.