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

Small Business Lenders in Fenton, Michigan

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Fenton, Michigan, we've assembled a list of local small business banks that you should contact.

Local Fenton Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank One  
Bestbank  
Citizens Bank  
Fentura Financial Inc  
Fifth Third Bank  
Flagstar Bank  
Peoples State Bank 1
The State Bank 33

Lenders for Fenton Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
New York, NY
1
Capital One
Mclean, VA
4
Century Bank And Trust
Coldwater, MI
1
Cit Small Business Lending Corp
Livingston, NJ
1
Citizens Bank
Flint, MI
3
Citizens Bank
Lansing, MI
16
Comerica Bank
Dallas, TX
1
Fifth Third Bank
Grand Rapids, MI
4
First Place Bank
Southfield, MI
1
Jpmorgan Chase Bank
Houston, TX
15
Lasalle Bank Midwest
Troy, MI
2
National City Bank
Bannockburn, IL
3
National City Bank
Indianapolis, IN
1
Peoples State Bank
Madison Heights, MI
1
The Huntington National Bank
Columbus, OH
1
The Huntington National Bank
Toledo, OH
1
Ups Capital Business Credit
Windsor, CT
2

Business Loan Advice for Fenton Businesses

Prior to reaching out to banks to discuss getting a bank 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, describe what the money will finance, and show your ability to pay the money back to the bank.

A well-defined business plan is is critically important. If the money is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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, 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. 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

Our Gaebler.com site is deeply committed to assisting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is Business Credit Evaluation.

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