Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Small Business Lenders in Ollie, Iowa

 
Loan Census SBA Loan Info

Raising money in Ollie, Iowa? If so, you'll want to talk to some of these small business lenders in Ollie.

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

Lenders for Ollie Businesses

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

Small Business Bank Recent SBA Loans
Libertyville Savings Bank
Fairfield, IA
1

Business Loan Advice for Ollie Businesses

Prior to meeting with banks 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is essential. If the capital 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 guarantee 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 are SBA lenders. Prior to visiting local banks, 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review Business Credit Evaluation.

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