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

Small Business Lenders in Walnut, Illinois

 
Loan Census SBA Loan Info

Small business loans in Walnut, Illinois are available. You just need to talk to the right bank.

If you are hoping to get a small business loan and your business is based in Walnut, Illinois, we've put together a list of local small business banks that you should contact.

Local Walnut Business Loan Sources

Without further adieu, here's our list of small business banks in Walnut.

Small Business Bank Recent SBA Loans
Citizens First State Bank  
First Federal Savings Bank  

Banks that Lend to Walnut Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Cit Small Business Lending Corp
Livingston, NJ
1
U.S. Bank National Association
Cincinnati, OH
1

Business Loan Advice for Walnut Businesses

Prior to contacting banks to get a bank loan, you will need to have a specific plan.

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 bank.

Being able to present a well-written business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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, the bank may ask you to to secure the business with your personal assets, such as the equity in your home. 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. 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Angel Investors.

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