Small Business Lenders in Waterford, Wisconsin

Local Waterford Business Loan Sources

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

Business Loan Providers for Waterford Businesses

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

Business Loan Advice for Waterford Businesses

Before reaching out to lenders for a 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the lender.

Having a business plan is essential. 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. 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, the bank may ask you to to to guarantee the loan 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 are SBA lenders. Before meeting with the 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.

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If you are new to our Gaebler.com site, you should know that we are devoted to aiding entrepreneurs, and we have a lot of information pertaining to to Raising Money. To learn more, one article that might be of interest to you is Find Start-Up Capital.