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

Beecher, Illinois Small Business Loans

 
Loan Census SBA Loan Info

I need a loan for my business in Beecher, Illinois! If that's what's on your mind, you've come to the right place.

If you are looking for a small business loan and your business is based in Beecher, Illinois, we've assembled a list of local small business banks that you should contact.

Local Beecher Business Loan Sources

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

Small Business Bank Recent SBA Loans
Charter One Bank  
First Community Bank and Trust  

Banks that Lend to Beecher Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - Grant Pk
Grant Park, IL
1
Cit Small Business Lending Corp
Livingston, NJ
1
Jpmorgan Chase Bank
Houston, TX
1
The Foster Bank
Chicago, IL
1

Beecher Bank Loan Tips

Before meeting with lenders for a loan, you will need to have a specific plan.

You need to be able to clearly explain your business, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the loan back to the lender.

A well-defined business plan is essential. 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, you will likely be asked to to guarantee the loan with your personal assets, such as the equity in your home. 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. Prior to visiting local banks, 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

If you are serious about Raising Money, you need to learn as much as you can. If you haven't read it already, we recommend you review 504 Loans.

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