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March 28, 2024  
 
 
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Business Loan Bruno, Minnesota

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Bruno, Minnesota who are interested in getting debt financing.

SBA Lenders for Bruno Businesses

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

Small Business Bank Recent SBA Loans
Woodlands National Bank
Hinckley, MN
1

Tips for Getting a Business Loan in Bruno

Before contacting 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 introduce your business to the banker, explain how much you want to borrow, describe what the money will finance, and show your ability to pay the money back to the lender.

Having a business plan is essential. If the loan is to for a company that is already doing business, 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 you cannot repay the loan.

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

If you are new to our Gaebler.com site, you should know that we are devoted to providing advice to entrepreneurs, and we have a lot of information pertaining to to Raising Money. To learn more, one article that might be of interest to you is Borrowing Money from Friends and Family.

Business Loan Sources for Other Cities in Minnesota
Get a Business Loan in Brainerd
Get a Business Loan in Buffalo

Browse All Business Loan Sources for Minnesota