Loan Census Banking News and Information
November 14, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Strafford, Missouri

 
Loan Census SBA Loan Info

Looking for a Strafford, Missouri small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Local Strafford Lenders

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

Small Business Bank Recent SBA Loans
Empire Bank - Strafford  
O'Bannon Bank  
The Greene County Bank 4

Other Lending Resources for Strafford Businesses

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

Small Business Bank Recent SBA Loans
Bank Of Urbana
Urbana, MO
3
Commerce Bank
Kansas City, MO
1
Empire Bank
Springfield, MO
1
Liberty Bank
Springfield, MO
1
Old Missouri National Bank
Springfield, MO
1
Southern Missouri Bank - Marshfi
Marshfield, MO
1
U.S. Bank National Association
Cincinnati, OH
1

Business Loan Advice for Strafford Businesses

As a prerequisite to reaching out to banks to get 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 how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the money is to for an existing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 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 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 serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Attracting Investors.

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