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

Small Business Lenders in Elliott, Iowa

 
Loan Census SBA Loan Info

Small business loans in Elliott, Iowa are available. You just need to talk to the right bank.

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

Local Elliott Business Loan Sources

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

Small Business Bank Recent SBA Loans
Houghton State Bank  

Business Loan Providers for Elliott Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Panama City Beach, FL
1

Business Loan Advice for Elliott Businesses

Before contacting banks for a 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is an important prerequisite. If the bank loan is to for a company that is already doing 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 secure the business 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 are SBA lenders. Before you sit down to talk with a small business banker, 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

If you are new to our Gaebler.com site, you should know that we are dedicated to supporting entrepreneurs, and we have a lot of resources related to to Raising Money. For example, one article that might be of interest to you is Getting a Small Business Loan.

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