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

Small Business Lenders in Custer, South Dakota

 
Loan Census SBA Loan Info

Small business loans in Custer, South Dakota 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 Custer, South Dakota, we've assembled a list of local small business banks that you should contact.

Local Custer Lending Resources

To assist you in finding a small business banker, here's our list of small business banks in Custer.

Small Business Bank Recent SBA Loans
First Western Bank 4

Business Loan Providers for Custer Businesses

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

Small Business Bank Recent SBA Loans
Black Hills Fcu
Rapid City, SD
2
Capital One
Mclean, VA
1
Dacotah Bank
Aberdeen, SD
1
First Western Bank
Rapid City, SD
1
Great Western Bank
Rapid City, SD
1
The First Western Bank Sturgis
Belle Fourche, SD
1

Business Loan Advice for Custer Businesses

As a prerequisite to reaching out to banks for a loan, you will need to develop the specifics of your loan request.

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 intend to to pay the loan back to the bank.

Having a business plan is is critically important. If the 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 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 your individual retirement account or pension plan. 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 are SBA lenders. 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

Gaebler.com is a site that is devoted to helping entrepreneurs, and we have a lot of resources related to to Raising Money. To learn more, one article that might be of interest to you is SBIR Funding.

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