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

Business Loan Durant, Iowa

 
Loan Census SBA Loan Info

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

We wrote this article for entrepreneurs in Durant, Iowa who are interested in getting a small business loan.

Local Durant Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Durant.

Small Business Bank Recent SBA Loans
Liberty Trust & Savings Bank  
Wilton Savings Bank  

Banks that Lend to Durant Businesses

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

Small Business Bank Recent SBA Loans
Wells Fargo Bank
Des Moines, IA
1
Wells Fargo Bank
Minneapolis, MN
1
Wells Fargo Bank
San Jose, CA
1

Tips for Getting a Business Loan in Durant

Before reaching out to 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.

A well-defined business plan is is critically important. 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 guarantee 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, the bank may ask you to to pledge your personal assets, such as your individual retirement account or pension plan. 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read How to Raise Money.

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