Loan Census Banking News and Information
April 23, 2014  
 
 
  Business Loan Information  
 

Small Business Lenders in Sartell, Minnesota

 
Loan Census SBA Loan Info

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

If you are planning on applying for a small business loan and your business is based in Sartell, Minnesota, we've put together a list of local small business banks that you should contact.

Local Sartell Business Lenders

Without further adieu, here's our list of small business banks in Sartell.

Small Business Bank Recent SBA Loans
Bankvista 17
Bremer - Located in Country Store  
Bremer Bank  
Integrity Bank Plus  
U S Bank  
Wells Fargo Bank NA  

Lenders for Sartell Businesses

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

Small Business Bank Recent SBA Loans
Amer Heritage National
Long Prairie, MN
1
Amer Heritage National
Saint Cloud, MN
1
Bremer Bank
Saint Cloud, MN
7
Capital One
Mclean, VA
1
Farmers & Merchants St. Bank - P
Sauk Rapids, MN
1
First State Bank Of St. Joseph
Saint Joseph, MN
1
St. Stephen State Bank
Saint Cloud, MN
1
Stearns Bank
Saint Cloud, MN
11
U.S. Bank National Association
Cincinnati, OH
5
Wells Fargo Bank
Minneapolis, MN
2
Wells Fargo Bank
San Jose, CA
2

Business Loan Advice for Sartell Businesses

Prior to contacting 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, describe what the money will finance, and show how you intend to to pay the loan back to the bank.

Being able to present a well-written business plan is is critically important. If the money is to for a going concern, 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 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 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 the banks in our list are SBA lenders. Before meeting with the 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read 504 Loans.

More Business Loan Info for Minnesota
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