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March 28, 2024  
 
 
  Business Loan Information  
 

Bemidji, Minnesota Small Business Loans

 
Loan Census SBA Loan Info

Raising money in Bemidji, Minnesota? If so, you'll want to talk to some of these small business lenders in Bemidji.

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

Local Bemidji Business Lenders

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

Small Business Bank Recent SBA Loans
Affinity Plus Federal Credit Union  
Citizens State Bank Midwest  
Deerwood Bank  
First Federal Bank 2
First National Bank Of Bemidji 5
Minnesota Business Finance Corporation  
Northland Community Bank - Bemidji Branch  
Security Bank Usa 2
Security Bankusa  
Wells Fargo Bank NA - Bemidji  

SBA Lenders for Bemidji Businesses

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

Small Business Bank Recent SBA Loans
1st National Bank - Deerwood
Blackduck, MN
1
1st National Bank - Deerwood
Deerwood, MN
1
Amer National Bank - Minnesota
Alexandria, MN
1
Associated Bank
Minneapolis, MN
1
Capital One
Mclean, VA
4
Capital One Bank (usa)
Glen Allen, VA
1
U.S. Bank National Association
Cincinnati, OH
1
Ultima Bank Minnesota
Winger, MN
1
Wells Fargo Bank
Minneapolis, MN
3
Wells Fargo Bank
San Jose, CA
4

Bemidji Bank Loan Tips

Before meeting with 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 explain your business, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you plan to pay the loan back to the lender.

A well-defined business plan is an important prerequisite. If the capital is to for an existing 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 these banks are SBA lenders. Before you sit down to talk with a small business 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 suggest you read 504 Loans.

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