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

Small Business Lenders in Ferguson, Missouri

 
Loan Census SBA Loan Info

Getting a business loan in Ferguson, Missouri seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Ferguson, Missouri, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Ferguson Businesses

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

Small Business Bank Recent SBA Loans
Bank Of America
Charlotte, NC
1
Business Loan Center, LLC
Panama City Beach, FL
1
Innovative Bank
Oakland, CA
3
Jefferson Bank & Trust Co.
Saint Louis, MO
1
National City Bank
Bannockburn, IL
1
Stearns Bank
Saint Cloud, MN
1
Superior Financial Group, LLC
Walnut Creek, CA
2
U.S. Bank National Association
Cincinnati, OH
1
Umb Bank
Kansas City, MO
1
Wells Fargo Bank
Sioux Falls, SD
1

Business Loan Advice for Ferguson Businesses

Prior to contacting banks 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 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 an important prerequisite. 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 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 Only Idiots Send Venture Capitalists Business Plans.

Business Loan Sources for Other Cities in Missouri
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