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

Lockport, Illinois Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Lockport, Illinois, we've put together a list of local small business banks that you should contact.

Local Lockport Business Loan Sources

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

Small Business Bank Recent SBA Loans
Bank One  
Charter One Bank - Branch Locations- Lockport  
Harris National Association 1

SBA Lenders for Lockport Businesses

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

Small Business Bank Recent SBA Loans
Amcore Bank
Rockford, IL
1
Bank Of America
Charlotte, NC
1
Business Lenders, LLC
Hartford, CT
1
Business Loan Center, LLC
Richmond, VA
1
Capital One
Mclean, VA
3
Capital One Bank (usa)
Glen Allen, VA
1
Cit Small Business Lending Corp
Livingston, NJ
2
Fifth Third Bank
Grand Rapids, MI
1
First National Bank - La Grange
La Grange, IL
1
Harris National Association
Chicago, IL
1
Harris National Association
Joliet, IL
1
Innovative Bank
Oakland, CA
1
Jpmorgan Chase Bank
Houston, TX
8
Lasalle Bank
Chicago, IL
1
National City Bank
Bannockburn, IL
8
National City Bank
Cleveland, OH
2
Rbs Citizens
Cleveland, OH
4
Rbs Citizens
Providence, RI
14
Shorebank
Bellwood, IL
1
Temecula Valley Bank
Temecula, CA
1
U.S. Bank National Association
Cincinnati, OH
3

Lockport Bank Loan Tips

Prior to reaching out to banks 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 introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show how you intend to to pay the money back to the bank.

A well-defined business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. You will also need to discuss 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 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 are SBA lenders. Before meeting with the banker, 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.

Gaebler.com Advice on Raising Money

Our Gaebler.com site is passionate about helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, one article that might be of interest to you is Business Line of Credit.

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