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

Corning, Iowa Business Loan

 
Loan Census SBA Loan Info

Looking for a Corning, Iowa small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business owners in Corning, Iowa who are interested in getting debt financing.

Local Corning Banks

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

Small Business Bank Recent SBA Loans
Corning Agency  
First Federal Savings Bank of Creston - Corning Branch  
Okey-vernon 1st National 8
State Bank of Brooks  
Union Bank  

Banks that Lend to Corning Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1

Corning Business Loan Advice

As a prerequisite to reaching out to banks to get 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, define how the money will be used, and show how you plan to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the bank loan is to for a company that is already doing business, 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 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. 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

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

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