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

Busby, Montana Small Business Loans

 
Loan Census SBA Loan Info

Small business loans in Busby, Montana are available. You just need to talk to the right bank.

If you are looking for a small business loan and your business is based in Busby, Montana, we've assembled a list of local small business banks that you should contact.

Lenders for Busby Businesses

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

Small Business Bank Recent SBA Loans
First State Bank Of Forsyth
Forsyth, MT
1

Busby Bank Loan Tips

As a prerequisite to reaching out to lenders to discuss getting a bank 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, define how the money will be used, and show your ability to pay the money back to the lender.

Being able to present a well-written business plan is essential. If the capital is to for an existing 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 are SBA lenders. Before meeting with the banker, you may want to do your homework 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

Our Gaebler.com site is devoted to helping entrepreneurs, and we have a lot of information pertaining to to Raising Money. For example, we recommend you read 504 Loans.

Business Loan Sources for Other Cities in Montana
Get a Business Loan in Bozeman
Get a Business Loan in Great Falls

Browse All Business Loan Sources for Montana