We wrote this article for small business owners in Sioux City, Iowa who are interested in getting a small business loan.
Local Sioux City Banks
To help you learn more about local small business lenders, here's our list of small business banks in Sioux City.
Lenders for Sioux City Businesses
This is a list of banks outside of Sioux City, Iowa that have provided SBA loans to Sioux City businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
1st National Bank - Akron
Akron, IA |
1 |
Amer Bank
Le Mars, IA |
3 |
American National Bank
Holstein, IA |
1 |
Bank Of America
Charlotte, NC |
2 |
Capital One
Mclean, VA |
5 |
Central Bank
Storm Lake, IA |
1 |
Citicapital Small Business Finance
Irving, TX |
1 |
Cortrust Bank
Mitchell, SD |
1 |
Dakota County State Bank
South Sioux City, NE |
3 |
First National Bank
Le Mars, IA |
1 |
First National Bank
Sioux Center, IA |
1 |
First National Bank Of Omaha
Omaha, NE |
1 |
First Premier Bank
Sioux Falls, SD |
1 |
Iowa-nebraska State Bank
South Sioux City, NE |
2 |
Minnwest Bank Sioux Falls
Sioux Falls, SD |
1 |
Peoples Bank
Rock Valley, IA |
3 |
Pioneer Bank
Sergeant Bluff, IA |
9 |
Primebank
Le Mars, IA |
1 |
Primebank
Sioux Center, IA |
1 |
Temecula Valley Bank
Temecula, CA |
2 |
U.S. Bank National Association
Cincinnati, OH |
7 |
United Bank Of Iowa
Ida Grove, IA |
1 |
Wells Fargo Bank
Minneapolis, MN |
2 |
Wells Fargo Bank
San Jose, CA |
2 |
Wells Fargo Bank
Sioux Falls, SD |
2 |
Tips for Getting a Business Loan in Sioux City
Before meeting with lenders to discuss getting a bank loan, you will need to determine exactly what size loan you will be asking for.
You need to be able to clearly explain your business, explain how much you want to borrow, define how the money will be used, and show your ability to pay the loan back to the lender.
Being able to present a well-written business plan is an important prerequisite. If the loan is to for a company that is already doing business, 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, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Before you sit down to talk with a small business banker, you may want to get up to speed 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 educate yourself. If you haven't read it
already, we recommend you review
504 Loans.
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