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March 28, 2024  
 
 
  Business Loan Information  
 

Shorewood, Wisconsin Business Loan

 
Loan Census SBA Loan Info

I need a loan for my business in Shorewood, Wisconsin! If that's what's on your mind, you've come to the right place.

We wrote this article for small business proprietors in Shorewood, Wisconsin who are interested in getting a bank loan.

Business Loan Providers for Shorewood Businesses

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

Small Business Bank Recent SBA Loans
Community Bank & Trust
Sheboygan, WI
1
First Bank Financial Centre
Oconomowoc, WI
2
U.S. Bank National Association
Cincinnati, OH
1
Wells Fargo Bank
Minneapolis, MN
1
Wells Fargo Bank
San Jose, CA
1

Shorewood Business Loan Advice

As a prerequisite to contacting banks to discuss getting a bank 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 how you intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the loan 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, 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 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 these banks 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

If you are serious about Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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