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

Sparta, Wisconsin Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Sparta, Wisconsin who are interested in getting a bank loan.

Local Sparta Lenders

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

Small Business Bank Recent SBA Loans
Acuity Bank  
First Bank of Sparta  
First National Bank  
River Bank 1
State Bank Financial 1

Banks that Lend to Sparta Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - Bangor
Bangor, WI
1
Altra Fcu
La Crosse, WI
1
Associated Bank
Green Bay, WI
2
Capital One
Mclean, VA
2
Park Bank
La Crosse, WI
1
River Bank
Holmen, WI
1
State Bank Financial
La Crosse, WI
7
Wells Fargo Bank
Minneapolis, MN
1
Wells Fargo Bank
San Jose, CA
1

Sparta Business Loan Advice

Before meeting with banks to get 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, define how the money will be used, and show how you intend to to pay the money back to the bank.

Having a 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 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 look at your personal credit report 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. Prior to visiting local banks, 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 educate yourself. If you haven't read it already, we recommend you review Angel Investors.

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