If you are looking for a small business loan and your business is based in Wahpeton, North Dakota, we've put together a list of local small business banks that you should contact.
Local Wahpeton Lenders
Without further adieu, here's our list of small business banks in Wahpeton.
Small Business Bank |
Recent SBA Loans |
American Federal Bank |
|
Bank Of The West |
1 |
Bremer - Bremer Bank |
|
Gate City Bank |
|
People's State Bank |
|
US Bank - Branch Offices- Wahpeton Office |
|
Wells Fargo Bank NA - Wahpeton ND |
|
Business Loan Providers for Wahpeton Businesses
This is a list of banks outside of Wahpeton, North Dakota that have provided SBA loans to Wahpeton businesses. Some of these may be national banks with local branch locations.
Wahpeton Bank Loan Tips
Before reaching out to banks to get a bank loan, you will need to develop the specifics of your loan request.
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 plan to pay the loan back to the bank.
Having a business plan is an important prerequisite. If the bank loan is to for a company that is already doing 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, the bank may ask you to 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the 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 new to our Gaebler.com site, you should know that we are devoted to helping entrepreneurs, and we have a
lot of resources related to to Raising
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