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March 28, 2024  
 
 
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Bonnie, Illinois Business Loan

 
Loan Census SBA Loan Info

Looking for a Bonnie, Illinois small business loan? We were annoyed by how hard it was to find city-specific small business lenders so we created this page just for you.

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

Banks that Lend to Bonnie Businesses

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

Small Business Bank Recent SBA Loans
Fifth Third Bank
Evansville, IN
2

Bonnie Business Loan Advice

Prior to contacting lenders to get a bank loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show your ability to pay the money back to the lender.

Having a business plan is an important prerequisite. If the financing is to for a going concern, you should also have financial statements covering the last three years. In addition, you should itemize 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 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 these banks participate in the financial assistance programs available through the SBA. Before you sit down to talk with a small business 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 planning on Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review Only Idiots Send Venture Capitalists Business Plans.

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