Loan Census Banking News and Information
April 21, 2014  
 
 
  Business Loan Information  
 

Business Loan Stillwater, Minnesota

 
Loan Census SBA Loan Info

Small business loans in Stillwater, Minnesota are available. You just need to talk to the right bank.

These materials were prepared for small business proprietors in Stillwater, Minnesota who are interested in getting a bank loan.

Local Stillwater Banks

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

Small Business Bank Recent SBA Loans
Central Bank 16
Eagle Valley Bank 2
First State Bank and Trust  
Firstar Bank  
Jennings State Bank  
S & C Bank  
TCF National Bank  
U S Bank - Branch Offices- Stillwater- Oak Ridge Office  
U S Bank - Stillwater Office- Branch Offices- Stillwater  
Wells Fargo Bank NA  

Business Loan Providers for Stillwater Businesses

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

Small Business Bank Recent SBA Loans
Anchor Bank
Wayzata, MN
6
Anchor Bank Heritage
North Saint Paul, MN
3
Anchor Bank Saint Paul
Saint Paul, MN
1
Associated Bank
Green Bay, WI
1
Associated Bank
Minneapolis, MN
3
Associated Bank
Plymouth, MN
1
Boundary Waters Bank
Ely, MN
1
Capital One
Mclean, VA
1
Central Bank
Golden Valley, MN
1
Cit Small Business Lending Corp
Livingston, NJ
1
Community National Bank
Vadnais Heights, MN
1
Eagle Valley Bank
Apple Valley, MN
1
Eagle Valley Bank
Saint Croix Falls, WI
1
Highland Bank
Maple Grove, MN
1
Innovative Bank
Oakland, CA
2
Kleinbank
Burnsville, MN
2
Lake Area Bank
Lindstrom, MN
1
Lake Elmo Bank
Lake Elmo, MN
2
Lake Elmo Bank
Oakdale, MN
1
North American Banking Company
Roseville, MN
1
Park Midway Bank
Saint Paul, MN
5
Premier Bank
Maplewood, MN
2
Stearns Bank
Saint Cloud, MN
1
Tcf National Bank
Wayzata, MN
1
U.S. Bank National Association
Cincinnati, OH
39
University Finan Corp. Dba Sun
Saint Paul, MN
1
Ups Capital Business Credit
Windsor, CT
1
Wells Fargo Bank
Minneapolis, MN
4
Wells Fargo Bank
San Jose, CA
4
Wells Fargo Bank
Sioux Falls, SD
3

Tips for Getting a Business Loan in Stillwater

Before 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, walk the banker through the planned use of proceeds, and show your ability to pay the loan back to the lender.

Having a business plan is is critically important. 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan 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 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 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 it a priority to learn as much as you can about Raising Money. To get started, we recommend you read Getting a Small Business Loan.

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