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

Business Loan Waltonville, Illinois

 
Loan Census SBA Loan Info

Looking for a Waltonville, Illinois 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.

We wrote this article for small business owners in Waltonville, Illinois who are interested in getting debt financing.

SBA Lenders for Waltonville Businesses

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

Small Business Bank Recent SBA Loans
Old National Bank
Evansville, IN
1
Peoples National Bank
Mount Vernon, IL
2

Tips for Getting a Business Loan in Waltonville

Before reaching out to lenders 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 introduce your business to the banker, explain how much you want to borrow, define how the money will be used, and show your ability to pay the money back to the lender.

Being able to present a well-written business plan is an important prerequisite. If the loan 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to to guarantee the loan 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 the banks in our list 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

Take the time to learn as much as you can about Raising Money. To get the ball rolling, we recommend you read Borrowing Money from Friends and Family.

Business Loan Sources for Other Cities in Illinois
Get a Business Loan in Villa Park
Get a Business Loan in Warrenville

Browse All Business Loan Sources for Illinois