Loan Census Banking News and Information
July 7, 2020  
  Business Loan Information  

Romeoville, Illinois Business Loan

Loan Census SBA Loan Info

Looking for a Romeoville, Illinois 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.

This article is written specifically for small business proprietors in Romeoville, Illinois who are interested in getting a small business loan.

Local Romeoville Business Lenders

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

Small Business Bank Recent SBA Loans
Bank of America  
Bank One - Banking Centers- Romeoville  
Bank One - Home by Phone-First Mortgage Loan Applications & In- Banking Centers- Romeov  

Banks that Lend to Romeoville Businesses

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

Small Business Bank Recent SBA Loans
Banco Popular North America
Chicago, IL
Bank Of America
Charlotte, NC
Capital One
Mclean, VA
Capital One Bank (usa)
Glen Allen, VA
Comerica Bank
Dallas, TX
Commerce Bank
Flemington, NJ
First American Bank
Elk Grove Village, IL
Home St. Bank/natl Association
Crystal Lake, IL
Jpmorgan Chase Bank
Houston, TX
National City Bank
Bannockburn, IL
National City Bank
Cleveland, OH
Plaza Bank
Norridge, IL
Rbs Citizens
Cleveland, OH
Rbs Citizens
Providence, RI
Bellwood, IL
West Suburban Bank
Bolingbrook, IL
Wisconsin Community Bank
Sheboygan, WI

Romeoville Business Loan Advice

Before reaching out to 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.

Having a business plan is is critically important. 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. You will also need to discuss 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, 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 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. 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. Advice on Raising Money

If you are new to our site, you should know that we are dedicated to aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. If raising money is on your to-do list, we would suggest you read Business Line of Credit.

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