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

Small Business Lenders in Sigourney, Iowa

 
Loan Census SBA Loan Info

Looking for a Sigourney, Iowa 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.

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

Local Sigourney Lending Resources

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

Small Business Bank Recent SBA Loans
Central Valley Bank  
Keokuk County State Bank 1

Lenders for Sigourney Businesses

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

Small Business Bank Recent SBA Loans
Hedrick Savings Bank
Ottumwa, IA
1

Business Loan Advice for Sigourney Businesses

As a prerequisite to meeting with lenders to get 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, describe what the money will finance, and show your ability to pay the money back to the lender.

Having a business plan is is critically important. If the financing is to for a company that is already doing business, you should also have financial statements covering the last three years. Bankers will also want to know 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 you cannot repay the loan.

If the business has few assets, the bank may ask you to 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 these banks participate in the financial assistance programs available through the SBA. Before meeting with the banker, you may want to get up to speed 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 planning on Raising Money, you need to educate yourself. If you haven't read it already, we recommend you review 504 Loans.

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