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

Small Business Lenders in Macy, Indiana

 
Loan Census SBA Loan Info

Getting a business loan in Macy, Indiana seems challenging at first, but we're here to help you get started.

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

Banks that Lend to Macy Businesses

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

Small Business Bank Recent SBA Loans
First Farmers Bank And Trust
Converse, IN
1
National City Bank
Cleveland, OH
1
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Macy Businesses

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, 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 is critically important. If the loan is to for a company that is already doing business, 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 pledge 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. Before you sit down to talk with a small business 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. To get started, we recommend you read Choosing VC Firms.

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