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

St. Francis, Minnesota Small Business Loans

 
Loan Census SBA Loan Info

Looking for a St. Francis, Minnesota 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 St. Francis, Minnesota, we've put together a list of local small business banks that you should contact.

Business Loan Providers for St. Francis Businesses

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

Small Business Bank Recent SBA Loans
Anchor Bank
Wayzata, MN
1
Branch Bank & Trust
Covington, GA
1
Drake Bank
Saint Paul, MN
1
Landmark Commun Bank
Ramsey, MN
1
M&i Marshall & Ilsley Bank
Milwaukee, WI
1
Mainstreet Bank
Forest Lake, MN
1
Mainstreet Bank
Herndon, VA
1
Peoples Bank Of Commerce
Cambridge, MN
1
Tcf National Bank
Edina, MN
1
U.S. Bank National Association
Cincinnati, OH
1
Wells Fargo Bank
San Jose, CA
1

St. Francis Bank Loan Tips

Before meeting with banks for a loan, you will need to have a specific plan.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show how you intend to to pay the money back to the bank.

Having a business plan is essential. If the money is to for a company that is already doing 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 to guarantee the loan with your personal assets, such as the equity in your home. 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 participate in the financial assistance programs available through the SBA. Before meeting with the banker, 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

Make the effort and learn as much as you can about Raising Money. To get started, we recommend you read Attracting Investors.

Business Loan Sources for Other Cities in Minnesota
Get a Business Loan in Shakopee
Get a Business Loan in Stewartville

Browse All Business Loan Sources for Minnesota