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March 28, 2024  
 
 
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Small Business Lenders in Cumming, Iowa

 
Loan Census SBA Loan Info

Looking for a Cumming, Iowa 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.

If you are planning on applying for a small business loan and your business is based in Cumming, Iowa, we've assembled a list of local small business banks that you should contact.

Lenders for Cumming Businesses

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

Small Business Bank Recent SBA Loans
Bank Iowa
Altoona, IA
1
City State Bank
Norwalk, IA
2
Community State Bank
Indianola, IA
1

Business Loan Advice for Cumming Businesses

As a prerequisite to contacting lenders 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 your ability to pay the loan back to the lender.

Being able to present a well-written business plan is is critically important. If the bank loan is to for a going concern, you should also have financial statements covering the last three years. Bankers will also want to know what collateral you have available to guarantee 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, the bank may ask you to 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 these banks 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 learn as much as you can. If you haven't read it already, we recommend you review Getting a Small Business Loan.

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