Business Loan Williamsburg, Iowa

Local Williamsburg Lenders

To assist you in finding a small business banker, here's our list of small business banks in Williamsburg.

Lenders for Williamsburg Businesses

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

Tips for Getting a Business Loan in Williamsburg

Before reaching out to banks for a loan, you will need to determine exactly what size loan you will be asking for.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the capital 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, 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 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. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

If you are new to our Gaebler.com site, you should know that we are all about providing advice to small business owners, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is How Equity Dilution Works.