This article is written specifically for small business owners in Council, Idaho who are interested in getting debt financing.
Local Council Business Lenders
To assist you in finding a small business banker, here's our list of small business banks in Council.
|Small Business Bank
||Recent SBA Loans
|U S Bank - Branch Office- Council- Council Office
Banks that Lend to Council Businesses
This is a list of banks outside of Council, Idaho that have provided SBA loans to Council businesses. Some of these may be national banks with local branch locations.
Council Business Loan Advice
Before contacting banks to discuss getting a bank 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, define how the money will be used, and show how you intend to to pay the loan back to the bank.
Being able to present a well-written business plan is an important prerequisite. If the loan 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, you will likely be asked to pledge 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 participate in the financial assistance programs available through the SBA. 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
Make it a priority to learn as much as you can about Raising
Money. To get the ball rolling, we recommend you read
Realistic Debt Financing Options.
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