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March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Caledonia, Michigan

 
Loan Census SBA Loan Info

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

This article is written specifically for entrepreneurs in Caledonia, Michigan who are interested in getting a small business loan.

Local Caledonia Lending Resources

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

Small Business Bank Recent SBA Loans
Chemical Bank 1
Hastings City Bank  

Business Loan Providers for Caledonia Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Capital One
Mclean, VA
2
Fifth Third Bank
Grand Rapids, MI
3
Irwin Union Bank & Trust
Columbus, IN
2
Jpmorgan Chase Bank
Houston, TX
3
Macatawa Bank
Holland, MI
2
Mercantile Bank Of Michigan
Grand Rapids, MI
2
National City Bank
Bannockburn, IL
5
National City Bank
Cleveland, OH
2
Select Bank
Grand Rapids, MI
1
The Huntington National Bank
Columbus, OH
1
United Bank Of Michigan
Grand Rapids, MI
3

Tips for Getting a Business Loan in Caledonia

Before contacting banks for a loan, you will need to determine exactly what size loan you will be asking for.

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 bank.

A well-defined business plan is is critically important. If the financing is to for a company that is already doing business, 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to pledge 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 are SBA lenders. Prior to visiting local banks, you may want to do your homework 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. To get the ball rolling, we recommend you read Business Credit Evaluation.

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