Loan Census Banking News and Information
April 25, 2014  
 
 
  Business Loan Information  
 

Small Business Lenders in Darfur, Minnesota

 
Loan Census SBA Loan Info

Looking for a Darfur, Minnesota 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.

If you are hoping to get a small business loan and your business is based in Darfur, Minnesota, we've assembled a list of local small business banks that you should contact.

Local Darfur Banks

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

Small Business Bank Recent SBA Loans
Triumph State Bank 1

Business Loan Advice for Darfur Businesses

As a prerequisite to reaching out to lenders for a loan, you will need to have a specific plan.

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 your ability to pay the money back to the lender.

Having a business plan is is critically important. If the money is to for an existing 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. 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. Before meeting with the banker, 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review How Equity Dilution Works.

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