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

Fort Madison, Iowa Business Loan

 
Loan Census SBA Loan Info

Looking for a Fort Madison, Iowa small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

These materials were prepared for small business owners in Fort Madison, Iowa who are interested in getting a small business loan.

Local Fort Madison Business Lenders

Without further adieu, here's our list of small business banks in Fort Madison.

Small Business Bank Recent SBA Loans
Fort Madison Bank & Trust Co. 4
Lee County Bank & Trust N A  
Lee County Investment Services  
Midwestone Bank  
State Central Bank 15
Time and Temperature  

Lenders for Fort Madison Businesses

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

Small Business Bank Recent SBA Loans
Excel National Bank
Beverly Hills, CA
1
State Central Bank
Keokuk, IA
1
Superior Financial Group, LLC
Walnut Creek, CA
1

Fort Madison Business Loan Advice

As a prerequisite to contacting 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 how you plan to pay the loan back to the bank.

Being able to present a well-written business plan is essential. 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. Bankers will also want to know 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 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 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 the banks in our list are SBA lenders. Before meeting with the 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

Gaebler.com is a site that is devoted to providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. If raising money is on your to-do list, one article that might be of interest to you is Investor Turnoffs.

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