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

Michigan Center, Michigan Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Michigan Center, Michigan are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Michigan Center, Michigan, we've assembled a list of local small business banks that you should contact.

Local Michigan Center Business Loan Sources

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

Small Business Bank Recent SBA Loans
Flagstar Bank  

Business Loan Providers for Michigan Center Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Chelsea State Bank
Chelsea, MI
1
Citizens Bank
Lansing, MI
2
National City Bank
Bannockburn, IL
1
United Midwest Savings Bank
De Graff, OH
1

Michigan Center Bank Loan Tips

Before meeting with banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the bank.

Having a business plan is is critically important. If the loan is to for an existing business, 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, the bank may ask you to to pledge 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 participate in the financial assistance programs available through the SBA. 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 all about supporting entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read Business Incubators.

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