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

Small Business Lenders in Grundy Center, Iowa

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Grundy Center, Iowa, we've put together a list of local small business banks that you should contact.

Local Grundy Center Business Loan Sources

Without further adieu, here's our list of small business banks in Grundy Center.

Small Business Bank Recent SBA Loans
Grundy National Bank - Grundy Cente 2
Liberty Bank  

Other Lending Resources for Grundy Center Businesses

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

Small Business Bank Recent SBA Loans
Midwestone Bank
Oskaloosa, IA
2
Midwestone Bank
Waterloo, IA
2

Business Loan Advice for Grundy Center Businesses

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 intend to 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 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, 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

Take the time to learn as much as you can about Raising Money. For starters, we suggest you read How Much Venture Capital Is There?.

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