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

Small Business Lenders in Rock Creek, Minnesota

 
Loan Census SBA Loan Info

Looking for a Rock Creek, Minnesota small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

If you are looking for a small business loan and your business is based in Rock Creek, Minnesota, we've assembled a list of local small business banks that you should contact.

Banks that Lend to Rock Creek Businesses

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

Small Business Bank Recent SBA Loans
Landmark Commun Bank
Ramsey, MN
1

Business Loan Advice for Rock Creek Businesses

Before meeting with banks to get a bank loan, you will need to develop the specifics of your loan request.

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.

A well-defined business plan is essential. If the capital is to for a going concern, 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 to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. 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 participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business banker, you may want to get up to speed 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

Our Gaebler.com site is passionate about providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read Getting a Small Business Loan.

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