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

Cando, North Dakota Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Cando, North Dakota who are interested in getting a bank loan.

Local Cando Lending Resources

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

Small Business Bank Recent SBA Loans
Country Bank USA  
Countrybank Usa 7
First State Bank Of Cando 3

Lenders for Cando Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
2
Wells Fargo Bank
San Jose, CA
2

Cando Business Loan Advice

Before reaching out to 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the bank loan is to for a going concern, 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 stocks and bonds that you might own or life insurance policies. 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 the banks in our list are SBA lenders. Prior to visiting local banks, 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

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 Getting a Small Business Loan.

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