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

Downers Grove, Illinois Small Business Loans

 
Loan Census SBA Loan Info

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

If you are looking for a small business loan and your business is based in Downers Grove, Illinois, we've put together a list of local small business banks that you should contact.

Local Downers Grove Business Loan Sources

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

Small Business Bank Recent SBA Loans
A DP  
Bank of Commerce  
Bank One - Home by Phone-First Mortgage Loan Applications & In- Dominick's Location- Banking Cen  
Charter One Bank - New Deposit Accounts- Branch Locations- Downers G  
Charter One Bank - New Deposit Accounts- Downers Grove- Branch  
Citibank F S B - Full Service Financial Centers  
Comm Bank of Downers Grove  

Business Loan Providers for Downers Grove Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - Grant Pk
Grant Park, IL
1
Amer Express Centurion Bk
Salt Lake City, UT
1
Banco Popular North America
New York City, NY
5
Bank Of America
Charlotte, NC
2
Business Loan Center, LLC
New York, NY
1
Capital One
Mclean, VA
10
Center Bank
Los Angeles, CA
1
Cit Small Business Lending Corp
Livingston, NJ
4
Citibank
Chicago, IL
1
Citibank
Las Vegas, NV
2
Citibank
Miami, FL
1
Comerica Bank
Dallas, TX
2
Fifth Third Bank
Geneva, IL
1
Fifth Third Bank
Grand Rapids, MI
1
First Choice Bank
Geneva, IL
1
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Harris National Association
Barrington, IL
2
Innovative Bank
Oakland, CA
9
Jpmorgan Chase Bank
Houston, TX
18
Lasalle Bank
Chicago, IL
5
Mutual Bank
Harvey, IL
1
National City Bank
Bannockburn, IL
2
Rbs Citizens
Cleveland, OH
1
Rbs Citizens
Providence, RI
12
Shorebank
Bellwood, IL
1
The Foster Bank
Chicago, IL
3
U.S. Bank National Association
Cincinnati, OH
15
Valley Community Bank
Saint Charles, IL
1
Washington Mutual Bank
Henderson, NV
1
Wells Fargo Bank
San Jose, CA
3
Zions First National Bank
West Valley City, UT
1

Downers Grove Bank Loan Tips

As a prerequisite to meeting with 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, walk the banker through the planned use of proceeds, and show how you plan to pay the money back to the lender.

A well-defined business plan is an important prerequisite. If the capital is to for an existing 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 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 the equity in your home. 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. 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

Our Gaebler.com site is devoted to providing advice to entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is Microlending as a Small Business Funding Source.

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