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

Aurora, Missouri Business Loan

 
Loan Census SBA Loan Info

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

We wrote this article for entrepreneurs in Aurora, Missouri who are interested in getting debt financing.

Local Aurora Lenders

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

Small Business Bank Recent SBA Loans
Bank Of America  
Commerce Bank  
Community National Bank 1
First Independent Bank 11
First Savings Bank  
Great Southern Bank  

Banks that Lend to Aurora Businesses

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

Small Business Bank Recent SBA Loans
Amer Express Centurion Bk
Salt Lake City, UT
1
Bank Of America
Charlotte, NC
3
Community National Bank
Monett, MO
2
Empire Bank
Springfield, MO
1
First Home Savings Bank
Mountain Grove, MO
1
Liberty Bank
Springfield, MO
2
Stone County National Bank
Crane, MO
1
Superior Financial Group, LLC
Walnut Creek, CA
1
U.S. Bank National Association
Cincinnati, OH
1

Aurora Business Loan Advice

As a prerequisite to contacting banks to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the bank.

A well-defined business plan is is critically important. If the money is to for an existing 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 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 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 meeting with the 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 planning on Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review Business Credit Evaluation.

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