Sebewaing, Michigan Business Loan

Local Sebewaing Banks

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

Business Loan Providers for Sebewaing Businesses

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

Sebewaing Business Loan Advice

As a prerequisite to meeting with banks to get a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. 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 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 the equity in your home. 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 are SBA lenders. Before meeting with the 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

Gaebler.com is a site that is passionate about supporting small business owners, and we have a lot of resources related to to Raising Money. For example, we recommend you read Getting a Small Business Loan.