Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

Waverly, Kansas Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for entrepreneurs in Waverly, Kansas who are interested in getting a bank loan.

Local Waverly Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Waverly.

Small Business Bank Recent SBA Loans
First National Bank of Kansas  

SBA Lenders for Waverly Businesses

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

Small Business Bank Recent SBA Loans
The Citizens State Bank
Gridley, KS
1

Waverly Business Loan Advice

Before reaching out to lenders to get 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, describe what the money will finance, and show your ability to pay the money back to the lender.

A well-defined business plan is essential. If the capital is to for a going concern, 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 pledge 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. Prior to visiting local banks, 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

Take the time to learn as much as you can about Raising Money. For starters, we recommend you read Borrowing Money from Friends and Family.

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