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

Oskaloosa, Iowa Business Loan

 
Loan Census SBA Loan Info

Getting a business loan in Oskaloosa, Iowa seems challenging at first, but we're here to help you get started.

We wrote this article for small business owners in Oskaloosa, Iowa who are interested in getting debt financing.

Local Oskaloosa Business Lenders

To help you learn more about local small business lenders, here's our list of small business banks in Oskaloosa.

Small Business Bank Recent SBA Loans
Bank Iowa 1
Commercial Federal Bank  
First National Bank Midwest  
Horizon Bank 5
Horizon Federal Savings Bank  
Horizon Investment Services Inc  
Mahaska State Bank - A Avenue West Office- West Office  
Mahaska State Bank - Main Bank  
MIC Data Services  
Mid West One Bank & Trust - Main Bank  
Midwestone Bank 9

Lenders for Oskaloosa Businesses

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

Small Business Bank Recent SBA Loans
Business Loan Center, LLC
Richmond, VA
2
Capital One
Mclean, VA
3
Cit Small Business Lending Corp
Livingston, NJ
1
First American Bank
Fort Myers, FL
1
Hedrick Savings Bank
Ottumwa, IA
1
Leighton State Bank
Leighton, IA
1
Wells Fargo Bank
Minneapolis, MN
1
Wells Fargo Bank
Sioux Falls, SD
1

Oskaloosa Business Loan Advice

Before meeting with lenders to get a bank 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 how you intend to to pay the money back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the bank 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 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 to guarantee the loan with 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 these banks 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.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read Getting a Small Business Loan.

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