Loan Census Banking News and Information
April 25, 2014  
  Business Loan Information  

Meadowlands, Minnesota Business Loan

Loan Census SBA Loan Info

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

These materials were prepared for small business owners in Meadowlands, Minnesota who are interested in getting a small business loan.

Other Lending Resources for Meadowlands Businesses

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

Small Business Bank Recent SBA Loans
M&i Marshall & Ilsley Bank
Milwaukee, WI
Newtek Small Business Finance Inc.
New York, NY
Security State Bank Of Hibbing
Hibbing, MN
Wells Fargo Bank
Minneapolis, MN

Meadowlands Business Loan Advice

As a prerequisite to meeting with lenders for a loan, you will need to have a specific plan.

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 plan to pay the loan back to the lender.

Being able to present a well-written business plan is essential. If the money is to for a company that is already doing 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to to guarantee the loan with your personal assets, such as the equity in your home. 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 meeting with the 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. Advice on Raising Money

Invest the time to learn as much as you can about Raising Money. To get the ball rolling, we suggest you read Attracting Investors.

Business Loan Sources for Other Cities in Minnesota
Get a Business Loan in Marshall
Get a Business Loan in Minneapolis

Browse All Business Loan Sources for Minnesota