Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Scandia, Kansas Small Business Loans

 
Loan Census SBA Loan Info

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

If you are hoping to get a small business loan and your business is based in Scandia, Kansas, we've assembled a list of local small business banks that you should contact.

Local Scandia Lenders

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

Small Business Bank Recent SBA Loans
Astra Bank 3
Scandia State Bank  

Scandia Bank Loan Tips

Prior to contacting 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 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 lender.

A well-defined business plan is an important prerequisite. If the capital is to for a company that is already doing business, you should also have financial statements covering the last three years. In addition, you should itemize 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, 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 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 these banks are SBA lenders. Prior to visiting local banks, 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.

Gaebler.com Advice on Raising Money

Take the time to learn as much as you can about Raising Money. To get started, we suggest you read Getting a Small Business Loan.

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