Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Doland, South Dakota Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Doland, South Dakota who are interested in getting debt financing.

Local Doland Lending Resources

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

Small Business Bank Recent SBA Loans
Wells Fargo Bank NA - Doland  

SBA Lenders for Doland Businesses

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

Small Business Bank Recent SBA Loans
First National Bank
Milnor, ND
1

Doland Business Loan Advice

As a prerequisite to meeting with lenders 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 introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you plan to pay the money back to the lender.

A well-defined business plan is essential. If the money is to for a company that is already doing business, 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 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 participate in the financial assistance programs available through the SBA. 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

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read How Equity Dilution Works.

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