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

Standish, Michigan Business Loan

 
Loan Census SBA Loan Info

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

This article is written specifically for small business proprietors in Standish, Michigan who are interested in getting a small business loan.

Local Standish Lending Resources

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

Small Business Bank Recent SBA Loans
Citizens Bank  
Forward Corporation - Convenience Stores- Standish  
Independent Bank  

Banks that Lend to Standish Businesses

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

Small Business Bank Recent SBA Loans
Chemical Bank
Bay City, MI
1
Citizens Bank
Flint, MI
3
National City Bank
Bannockburn, IL
2

Standish Business Loan Advice

As a prerequisite to reaching out to lenders for a 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, define how the money will be used, and show how you intend to to pay the loan back to the lender.

Having a business plan is an important prerequisite. If the money 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 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 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 you sit down to talk with a small business 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 new to our Gaebler.com site, you should know that we are dedicated to aiding small business owners, and we have a lot of resources related to to Raising Money. If you want to learn about raising money, one article that might be of interest to you is Investor Turnoffs.

Business Loan Sources for Other Cities in Michigan
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Get a Business Loan in Sterling Heights

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