Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Calumet City, Illinois

 
Loan Census SBA Loan Info

I need a loan for my business in Calumet City, Illinois! 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 Calumet City, Illinois, we've assembled a list of local small business banks that you should contact.

Local Calumet City Lenders

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

Small Business Bank Recent SBA Loans
ABN AMRO  
Bank One - Dominick's  
Bankfinancial  
Charter One Bank  
Citibank F S B - South Suburbs- Branches- Full Service Financial Centers- River  
Corus Bank  
Rbs Citizens 2

Other Lending Resources for Calumet City Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
First Bank
Chicago, IL
1
Harris National Association
Chicago, IL
1
Harris National Association
Portage, IN
1
Innovative Bank
Oakland, CA
7
Jpmorgan Chase Bank
Houston, TX
2
Lasalle Bank
Chicago, IL
2
Park National Bank
Chicago, IL
1
Rbs Citizens
Providence, RI
8
Shorebank
Chicago, IL
3

Business Loan Advice for Calumet City Businesses

As a prerequisite to contacting banks to discuss getting a bank loan, you will need to develop the specifics of your loan request.

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.

Having a business plan is an important prerequisite. If the capital is to for a company that is already doing 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 secure the business with your personal assets, such as your individual retirement account or pension plan. 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 these banks are SBA lenders. Before you sit down to talk with a small business banker, 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

Invest the time to learn as much as you can about Raising Money. For starters, we suggest you read Business Cash Advances.

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