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

Osceola, Missouri Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Osceola, Missouri! 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 Osceola, Missouri, we've assembled a list of local small business banks that you should contact.

Local Osceola Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Osceola.

Small Business Bank Recent SBA Loans
St. Clair County State Bank 38

Lenders for Osceola Businesses

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

Small Business Bank Recent SBA Loans
Bank Of Urbana
Urbana, MO
1
St. Clair County State Bank
Appleton City, MO
1

Osceola Bank Loan Tips

As a prerequisite to contacting banks for a 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, describe what the money will finance, and show your ability to pay the loan back to the bank.

A well-defined business plan is essential. 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. In addition, you should itemize 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, you will likely be asked to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 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.

Gaebler.com Advice on Raising Money

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Business Incubators.

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