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.
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.
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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