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

Small Business Lenders in Mount Ayr, Iowa

 
Loan Census SBA Loan Info

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

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

Local Mount Ayr Lenders

Without further adieu, here's our list of small business banks in Mount Ayr.

Small Business Bank Recent SBA Loans
First Federal Savings Bank of Creston - MT Ayr Branch  
Great Western Bank 7
U S Bank - Branch Offices- MT Ayr- MT Ayr Office  

Other Lending Resources for Mount Ayr Businesses

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

Small Business Bank Recent SBA Loans
U.S. Bank National Association
Cincinnati, OH
3
Wells Fargo Bank
Minneapolis, MN
1

Business Loan Advice for Mount Ayr Businesses

As a prerequisite to reaching out to banks to get a bank 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the bank loan is to for a company that is already doing 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, you will likely be asked to pledge your personal assets, such as the equity in your home. 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. Prior to visiting local banks, 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.

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