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

Small Business Lenders in Fordville, North Dakota

 
Loan Census SBA Loan Info

Raising money in Fordville, North Dakota? If so, you'll want to talk to some of these small business lenders in Fordville.

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

Local Fordville Banks

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

Small Business Bank Recent SBA Loans
Bremer - Bremer Bank  

Lenders for Fordville Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Choice Financial Group
Grafton, ND
1

Business Loan Advice for Fordville Businesses

As a prerequisite to meeting with 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 how you plan to pay the money back to the bank.

Having a business plan is essential. If the loan is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 these banks participate in the financial assistance programs available through the SBA. Prior to visiting local banks, you may want to read up on 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

Gaebler.com is a site that is devoted to providing advice to small business owners, and we have a lot of information pertaining to to Raising Money. For example, we would suggest you read Borrowing Money from Friends and Family.

More Business Lender Lists for North Dakota Cities
Get a Business Loan in Fargo
Get a Business Loan in Grand Forks

Browse All Business Loan Sources for North Dakota