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

Business Loan Savage, Minnesota

 
Loan Census SBA Loan Info

I need a loan for my business in Savage, 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 Savage, Minnesota who are interested in getting debt financing.

Local Savage Lenders

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

Small Business Bank Recent SBA Loans
Associated Bank  
ATM Express  
First Community Bank  
First Resource Bank 6
Sterling State Bank  
Wells Fargo Financial Leasing  

SBA Lenders for Savage Businesses

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

Small Business Bank Recent SBA Loans
Alliance Bank
Saint Paul, MN
1
Anchor Bank
Wayzata, MN
3
Anchor Bank Saint Paul
Saint Paul, MN
2
Associated Bank
Green Bay, WI
5
Associated Bank
Minneapolis, MN
5
Bremer Bank
Saint Louis Park, MN
1
Bremer Bank
South Saint Paul, MN
1
Brickwell Community Bank
Woodbury, MN
1
Capital One
Mclean, VA
2
Capital One Bank (usa)
Glen Allen, VA
1
Cit Small Business Lending Corp
Livingston, NJ
2
Fidelity Bank
Edina, MN
2
Highland Bank
Maple Grove, MN
1
Highland Bank
Saint Michael, MN
2
M&i Marshall & Ilsley Bank
Milwaukee, WI
5
Newtek Small Business Finance Inc.
New York, NY
1
Park Midway Bank
Saint Paul, MN
2
Prior Lake State Bank
Prior Lake, MN
2
Stearns Bank
Saint Cloud, MN
2
U.S. Bank National Association
Cincinnati, OH
11
U.S. Bank National Association
San Diego, CA
2
Venture Bank
Bloomington, MN
1
Voyager Bank
Eden Prairie, MN
1
Wachovia SBA Lending, Inc.
Roseville, CA
1
Wells Fargo Bank
Minneapolis, MN
5
Wells Fargo Bank
San Jose, CA
5
Wells Fargo Bank
Sioux Falls, SD
2
Western Bank
Saint Paul, MN
1

Tips for Getting a Business Loan in Savage

Before meeting with lenders to discuss getting 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, walk the banker through the planned use of proceeds, 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 money is to for an existing 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, you will likely be asked to secure the business 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. Prior to visiting local banks, 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

Gaebler.com is a site that is devoted to assisting small business owners, and we have a lot of useful articles about to Raising Money. For example, we would suggest you read Business Credit Evaluation.

More Business Lender Lists for Minnesota Cities
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Get a Business Loan in Shakopee

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