Loan Census Banking News and Information
April 23, 2014  
 
 
  Business Loan Information  
 

Business Loan Appleton, Minnesota

 
Loan Census SBA Loan Info

Looking for a Appleton, Minnesota small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

This article is written specifically for small business owners in Appleton, Minnesota who are interested in getting debt financing.

Local Appleton Banks

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

Small Business Bank Recent SBA Loans
Farmers & Merchants State Bank 2
Prairie Sun  

Other Lending Resources for Appleton Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Minnwest Bank Central
Montevideo, MN
1

Tips for Getting a Business Loan in Appleton

As a prerequisite to reaching out to banks to discuss getting a bank loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the bank.

Being able to present a well-written business plan is is critically important. If the capital is to for an existing business, 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, 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

Make the effort and learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Find Start-Up Capital.

Business Loan Sources for Other Cities in Minnesota
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