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March 29, 2024  
 
 
  Business Loan Information  
 

Business Loan Bluffs, Illinois

 
Loan Census SBA Loan Info

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

We wrote this article for small business owners in Bluffs, Illinois who are interested in getting a small business loan.

Local Bluffs Lending Resources

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

Small Business Bank Recent SBA Loans
Bank of Bluffs  

Lenders for Bluffs Businesses

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

Small Business Bank Recent SBA Loans
Bank Of Springfield
Springfield, IL
1

Tips for Getting a Business Loan in Bluffs

Before reaching out to lenders to get a bank 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, define how the money will be used, 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 financing 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 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 the banks in our list 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 serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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