Small Business Lenders in Wishek, North Dakota

Local Wishek Banks

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

Other Lending Resources for Wishek Businesses

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

Business Loan Advice for Wishek Businesses

Prior to reaching out to lenders to get a bank 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, define how the money will be used, and show how you plan to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the loan 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, you will likely be asked to to guarantee the loan 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 are SBA lenders. Prior to visiting local banks, you may want to get up to speed 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 passionate about providing advice to small business owners, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read 504 Loans.