Loan Census Banking News and Information
April 16, 2014  
 
 
  Business Loan Information  
 

Business Loan Ham Lake, Minnesota

 
Loan Census SBA Loan Info

Small business loans in Ham Lake, Minnesota are available. You just need to talk to the right bank.

We wrote this article for entrepreneurs in Ham Lake, Minnesota who are interested in getting a bank loan.

Other Lending Resources for Ham Lake Businesses

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

Small Business Bank Recent SBA Loans
21st Century Bank
Loretto, MN
1
Americana Community Bank
Sleepy Eye, MN
1
Anchor Bank
Wayzata, MN
3
Associated Bank
Minneapolis, MN
1
Boundary Waters Bank
Blaine, MN
1
Capital One
Mclean, VA
2
Community Pride Bank
Isanti, MN
9
Kleinbank
Coon Rapids, MN
1
Landmark Commun Bank
Isanti, MN
3
Peoples Bank Of Commerce
Saint Paul, MN
1
Riverview Community Bank
Otsego, MN
1
Tcf National Bank
Wayzata, MN
1
U.S. Bank National Association
Cincinnati, OH
2
Venture Bank
Bloomington, MN
1
Wells Fargo Bank
Minneapolis, MN
4
Wells Fargo Bank
Rogers, MN
1
Wells Fargo Bank
San Jose, CA
4

Tips for Getting a Business Loan in Ham Lake

Prior to contacting lenders to discuss getting 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 plan to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the money is to for an existing 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 pledge your personal assets, such as stocks and bonds that you might own or life insurance policies. The banks will look at your personal credit report 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 participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to do your homework 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

Our Gaebler.com site is dedicated to assisting entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, one article that might be of interest to you is SBIR Funding.

Business Loan Sources for Other Cities in Minnesota
Get a Business Loan in Grand Rapids
Get a Business Loan in Hastings

Browse All Business Loan Sources for Minnesota