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

Small Business Lenders in Birmingham, Michigan

 
Loan Census SBA Loan Info

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

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

Local Birmingham Lenders

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

Small Business Bank Recent SBA Loans
Charter One Bank - New Deposit Accounts- Birmingham- Branch  
Comerica Mortgage  
Countrywide Bank  
Fidelity Bank  
Fifth Third Bank  
First of America Bank  
Flagstar Bank  
Franklin Bank  
Huntington Investment Company  
Huntington National Bank - Private Banking  
Huntington National Bank - Trust Division  

SBA Lenders for Birmingham Businesses

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

Small Business Bank Recent SBA Loans
Bank Of Auburn Hills
Auburn Hills, MI
2
California Bank & Trust
Sacramento, CA
1
Capital One
Mclean, VA
5
Cit Small Business Lending Corp
Livingston, NJ
1
Citizens Bank
Lansing, MI
4
Clarkston State Bank
Clarkston, MI
1
Comerica Bank
Dallas, TX
1
First Place Bank
Southfield, MI
4
First Place Bank
Warren, OH
3
Ge Cap. Small Business Finan Corp
St. Louis, MO
1
Independent Bank
Troy, MI
1
Jpmorgan Chase Bank
Houston, TX
2
Lasalle Bank Midwest
Troy, MI
2
National City Bank
Bannockburn, IL
8
National City Bank
Cleveland, OH
2
National City Bank
Indianapolis, IN
1
Paramount Bank
Farmington Hills, MI
1
Rbs Citizens
Providence, RI
16
Temecula Valley Bank
Temecula, CA
1
The Huntington National Bank
Columbus, OH
3
The Huntington National Bank
Zanesville, OH
1
United Bank & Tr - Washtenaw
Ann Arbor, MI
1

Business Loan Advice for Birmingham Businesses

Prior to reaching out to lenders for a loan, you will need to develop the specifics of your loan request.

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 intend to to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize what collateral you have available to guarantee 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 secure the business with your personal assets, such as your individual retirement account or pension plan. 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

Invest the time to learn as much as you can about Raising Money. To get started, we suggest you read Find Start-Up Capital.

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