Loan Census Banking News and Information
April 20, 2014  
 
 
  Business Loan Information  
 

Pine River, Minnesota Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Pine River, Minnesota who are interested in getting a bank loan.

Local Pine River Banks

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

Small Business Bank Recent SBA Loans
Pine River State Bank 8
U S Bank - Branch Offices- Pine River- Pine River Office  

SBA Lenders for Pine River Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
1
Choice Financial Group
Walhalla, ND
1
Kleinbank
Madison, MN
1
M&i Marshall & Ilsley Bank
Milwaukee, WI
1
Stearns Bank
Saint Cloud, MN
1
U.S. Bank National Association
Cincinnati, OH
1
Wells Fargo Bank
San Jose, CA
2

Pine River Business Loan Advice

Prior to meeting with 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the financing 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to to secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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 are SBA lenders. Before you sit down to talk with a small business 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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