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

Small Business Lenders in Davison, Michigan

 
Loan Census SBA Loan Info

Getting a business loan in Davison, Michigan seems challenging at first, but we're here to help you get started.

If you are hoping to get a small business loan and your business is based in Davison, Michigan, we've assembled a list of local small business banks that you should contact.

Local Davison Business Loan Sources

Without further adieu, here's our list of small business banks in Davison.

Small Business Bank Recent SBA Loans
Citizens Bank  
Davison State Bank 1

Lenders for Davison Businesses

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

Small Business Bank Recent SBA Loans
Capital One
Mclean, VA
5
Cit Small Business Lending Corp
Livingston, NJ
1
Citizens Bank
Flint, MI
1
Citizens Bank
Lansing, MI
9
Citizens First Savings Bank
Port Huron, MI
2
First Place Bank
Southfield, MI
1
Jpmorgan Chase Bank
Houston, TX
6
Jpmorgan Chase Bank
Phoenix, AZ
1
Lasalle Bank Midwest
Lansing, MI
1
National City Bank
Bannockburn, IL
2
National City Bank
Cleveland, OH
1
Rbs Citizens
Providence, RI
2
Small Business Loan Source LLC
Houston, TX
1

Business Loan Advice for Davison Businesses

As a prerequisite to meeting with banks to discuss getting a bank loan, you will need to have a specific plan.

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 bank.

Having a business plan is is critically important. If the money 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 you cannot repay the loan.

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 the banks in our list are SBA lenders. Before meeting with the banker, you may want to read up on 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

Take the time to learn as much as you can about Raising Money. To get started, we recommend you read How Equity Dilution Works.

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