Loan Census Banking News and Information
August 22, 2019  
  Business Loan Information  

Small Business Lenders in Birchwood, Wisconsin

Loan Census SBA Loan Info

I need a loan for my business in Birchwood, Wisconsin! If that's what's on your mind, you've come to the right place.

If you are planning on applying for a small business loan and your business is based in Birchwood, Wisconsin, we've assembled a list of local small business banks that you should contact.

Local Birchwood Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Birchwood.

Small Business Bank Recent SBA Loans
Dairy State Bank  

SBA Lenders for Birchwood Businesses

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

Small Business Bank Recent SBA Loans
Johnson Bank
Racine, WI

Business Loan Advice for Birchwood Businesses

As a prerequisite to meeting with lenders to discuss getting a bank loan, you will need to have a specific plan.

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.

A well-defined business plan is essential. If the capital 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 secure the business with your personal assets, such as the equity in your home. 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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. Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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