Small Business Lenders in Washburn, Missouri

Local Washburn Lenders

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

SBA Lenders for Washburn Businesses

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

Business Loan Advice for Washburn Businesses

Before contacting banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

Having a business plan is an important prerequisite. If the money is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 secure the business 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 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

Gaebler.com is a site that is deeply committed to aiding small business owners, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is Microlending as a Small Business Funding Source.