We wrote this article for small business proprietors in Watertown, Wisconsin who are interested in getting a small business loan.
Local Watertown Banks
To assist you in finding a small business banker, here's our list of small business banks in Watertown.
Banks that Lend to Watertown Businesses
This is a list of banks outside of Watertown, Wisconsin that have provided SBA loans to Watertown businesses. Some of these may be national banks with local branch locations.
Small Business Bank |
Recent SBA Loans |
Associated Bank
Green Bay, WI |
2 |
Capital One
Mclean, VA |
6 |
Community Bank & Trust
Sheboygan, WI |
1 |
Cornerstone Community Bank
Grafton, WI |
1 |
Farmers & Merchants State Bank
Waterloo, WI |
1 |
First Bank Financial Centre
Hartford, WI |
1 |
First Bank Financial Centre
Oconomowoc, WI |
2 |
Innovative Bank
Oakland, CA |
1 |
Isb Community Bank
Ixonia, WI |
4 |
Jpmorgan Chase Bank
Houston, TX |
10 |
Jpmorgan Chase Bank
Phoenix, AZ |
1 |
M&i Marshall & Ilsley Bank
Brookfield, WI |
1 |
M&i Marshall & Ilsley Bank
Milwaukee, WI |
7 |
Tips for Getting a Business Loan in Watertown
Prior to reaching out to lenders to discuss getting a bank 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 how you plan to pay the loan back to the lender.
Having a business plan is an important prerequisite. If the 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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
Make it a priority 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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