Loan Census Banking News and Information
December 24, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Valmeyer, Illinois

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Valmeyer, Illinois, we've assembled a list of local small business banks that you should contact.

Local Valmeyer Business Lenders

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

Small Business Bank Recent SBA Loans
First Bank  

Business Loan Providers for Valmeyer Businesses

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

Small Business Bank Recent SBA Loans
National City Bank
Cleveland, OH
1
Regions Bank
Memphis, TN
1

Business Loan Advice for Valmeyer Businesses

Before reaching out to banks 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, describe what the money will finance, and show how you plan to pay the money back to the bank.

Having a business plan is an important prerequisite. If the bank loan is to for an existing 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 you cannot repay the loan.

If the business has few assets, you will likely be asked 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 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

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read How Equity Dilution Works.

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