Crescent, Iowa Small Business Loans

Local Crescent Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Crescent.

Other Lending Resources for Crescent Businesses

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

Crescent Bank Loan Tips

As a prerequisite to contacting banks to get 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, define how the money will be used, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know 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 to guarantee the loan 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 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

Gaebler.com is a site that is dedicated to assisting small business owners, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is 504 Loans.