Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Collins, Missouri Business Loan

 
Loan Census SBA Loan Info

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

These materials were prepared for small business proprietors in Collins, Missouri who are interested in getting a small business loan.

Local Collins Business Loan Sources

To help you learn more about local small business lenders, here's our list of small business banks in Collins.

Small Business Bank Recent SBA Loans
Citizens Union State Bank & Trust  

Business Loan Providers for Collins Businesses

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

Small Business Bank Recent SBA Loans
St. Clair County State Bank
Osceola, MO
2

Collins Business Loan Advice

Prior to contacting banks for a 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 plan to pay the loan back to the bank.

Having a business plan is essential. If the loan 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 you cannot repay the loan.

If the business has few assets, you will likely be asked to pledge your personal assets, such as the equity in your home. The banks will look at your personal credit report 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 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

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 Choosing VC Firms.

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