Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Brentwood, Missouri Small Business Loans

 
Loan Census SBA Loan Info

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

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

Other Lending Resources for Brentwood Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
New York City, NY
1
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
1
Commerce Bank
Kansas City, MO
1
Regions Bank
Memphis, TN
2

Brentwood Bank Loan Tips

Before contacting 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the loan is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 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.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

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