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

Small Business Lenders in Benton Harbor, Michigan

 
Loan Census SBA Loan Info

Small business loans in Benton Harbor, Michigan are available. You just need to talk to the right bank.

If you are hoping to get a small business loan and your business is based in Benton Harbor, Michigan, we've put together a list of local small business banks that you should contact.

Local Benton Harbor Banks

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

Small Business Bank Recent SBA Loans
Bank One - Banking Centers- Riverview Drive  
Best Home Financial Inc  
Chemical Bank 50
Fifth Third Bank - Branches  

Lenders for Benton Harbor Businesses

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

Small Business Bank Recent SBA Loans
1st Source Bank
South Bend, IN
9
Capital One
Mclean, VA
2
Fifth Third Bank
Grand Rapids, MI
4
Horizon Bank
Michigan City, IN
1
Horizon Bank
New Buffalo, MI
1
Jpmorgan Chase Bank
Houston, TX
5
National City Bank
Cleveland, OH
1

Business Loan Advice for Benton Harbor Businesses

Prior to reaching out to lenders for a 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, describe what the money will finance, and show how you intend to to pay the loan 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked 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 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

Gaebler.com is a site that is passionate about aiding entrepreneurs, and we have a lot of useful articles about to Raising Money. For example, we recommend you read Realistic Debt Financing Options.

More Business Loan Info for Michigan
Get a Business Loan in Belding
Get a Business Loan in Berkley

Browse All Business Loan Sources for Michigan