Loan Census Banking News and Information
April 24, 2014  
 
 
  Business Loan Information  
 

Small Business Lenders in Bloomington, Minnesota

 
Loan Census SBA Loan Info

Small business loans in Bloomington, Minnesota are available. You just need to talk to the right bank.

If you are hoping to get a small business loan and your business is based in Bloomington, Minnesota, we've put together a list of local small business banks that you should contact.

Local Bloomington Business Lenders

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

Small Business Bank Recent SBA Loans
Bridgewater Bank 6
First Commercial Bank 18
Guaranty Bank 7
Highland Bank 1
Mac-clair Mortgage - Chad Pahl  
Premier Bank Minnesota 2
United Bankers' Bank 1
Venture Bank 154
Wells Fargo Bank 4

Lenders for Bloomington Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - River Falls
River Falls, WI
1
Anchor Bank
Wayzata, MN
10
Anchor Bank Heritage
Woodbury, MN
1
Anchor Bank Saint Paul
Saint Paul, MN
1
Associated Bank
Green Bay, WI
1
Associated Bank
Minneapolis, MN
10
Boundary Waters Bank
Blaine, MN
2
Bremer Bank
Saint Cloud, MN
3
Bremer Bank
Saint Louis Park, MN
1
Capital One
Mclean, VA
8
Cit Small Business Lending Corp
Livingston, NJ
1
Citicapital Small Business Finance
Irving, TX
1
Community Bank Owatonna
Owatonna, MN
1
Community Pride Bank
Isanti, MN
1
Crown Bank
Edina, MN
1
Dacotah Bank
Sioux Falls, SD
1
Eagle Valley Bank
Apple Valley, MN
1
Eastbank
Minneapolis, MN
1
Fidelity Bank
Edina, MN
4
First Minnetonka City Bank
Minnetonka, MN
1
First National Bank - Lakes
Minneapolis, MN
2
First National Bank - Lakes
Navarre, MN
1
Highland Bank
Maple Grove, MN
7
Highland Bank
Saint Michael, MN
15
Kleinbank
Burnsville, MN
2
Kleinbank
Carver, MN
2
M&i Bank FSB
Las Vegas, NV
1
M&i Marshall & Ilsley Bank
Edina, MN
1
M&i Marshall & Ilsley Bank
Milwaukee, WI
9
M&i Marshall & Ilsley Bank
Richfield, MN
1
Maple Bank
Champlin, MN
1
Merchants Bank
Apple Valley, MN
1
Merchants Bank
Hampton, MN
1
Merchants Bank
Hastings, MN
1
Minnwest Bank Metro
Rochester, MN
2
Park Midway Bank
Saint Paul, MN
2
Peoples Bank Of Commerce
Cambridge, MN
2
Peoples Bank Of Commerce
Minneapolis, MN
1
Peoples Bank Of Commerce
Saint Paul, MN
1
Premier Bank
Maplewood, MN
1
Premier Bank Minnesota
Farmington, MN
2
Prime Security Bank
Shakopee, MN
1
Provincial Bank
Lakeville, MN
3
Roundbank
Waseca, MN
1
St. Stephen State Bank
Saint Stephen, MN
1
Stearns Bank
Saint Cloud, MN
3
Tcf National Bank
Edina, MN
1
Tcf National Bank
Wayzata, MN
2
The Business Bank
Minnetonka, MN
3
U.S. Bank National Association
Cincinnati, OH
25
U.S. Bank National Association
San Diego, CA
1
University Finan Corp. Dba Sun
Saint Paul, MN
1
Voyager Bank
Eden Prairie, MN
3
Wells Fargo Bank
Minneapolis, MN
15
Wells Fargo Bank
San Jose, CA
24
Wells Fargo Bank
Sioux Falls, SD
4
Western Bank
Mounds View, MN
1
Western Bank
Saint Paul, MN
1

Business Loan Advice for Bloomington Businesses

Prior to contacting lenders to discuss getting a bank 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, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the lender.

Being able to present a well-written business plan is essential. If the money 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 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 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. Before meeting with the banker, you may want to read up on 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 it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Business Line of Credit.

Business Loan Sources for Other Cities in Minnesota
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