Loan Census Banking News and Information
May 26, 2020  
  Business Loan Information  

Business Loan Fredonia, Kansas

Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Fredonia, Kansas who are interested in getting a bank loan.

Local Fredonia Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Fredonia.

Small Business Bank Recent SBA Loans
Community National Bank  
First National Bank in Fredonia  
The State Bank of Kansas  

SBA Lenders for Fredonia Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
Condon National Bank
Coffeyville, KS
First Neodesha Bank
Neodesha, KS

Tips for Getting a Business Loan in Fredonia

As a prerequisite to reaching out to banks to get 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, walk the banker through the planned use of proceeds, and show how you intend to to pay the loan back to the bank.

A well-defined business plan is essential. If the loan is to for a going concern, 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 cash flow from the business does not meet your projections.

If the business has few assets, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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. 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. Advice on Raising Money

Our site is deeply committed to providing advice to small business owners, and we have a lot of resources related to to Raising Money. For example, we would suggest you read Bank Credit Lines.

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