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March 29, 2024  
 
 
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Fort Pierre, South Dakota Business Loan

 
Loan Census SBA Loan Info

Looking for a Fort Pierre, South Dakota 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.

This article is written specifically for small business proprietors in Fort Pierre, South Dakota who are interested in getting a bank loan.

Local Fort Pierre Banks

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

Small Business Bank Recent SBA Loans
First National Bank 18

Banks that Lend to Fort Pierre Businesses

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

Small Business Bank Recent SBA Loans
American State Bank
Pierre, SD
1
Innovative Bank
Oakland, CA
1

Fort Pierre Business Loan Advice

Prior to reaching out to banks to discuss getting 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is essential. If the bank loan 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 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 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 these banks 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

Make it a priority to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in South Dakota
Get a Business Loan in Brookings
Get a Business Loan in Huron

Browse All Business Loan Sources for South Dakota