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

Small Business Lenders in Decatur, Indiana

 
Loan Census SBA Loan Info

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

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

Local Decatur Lending Resources

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

Small Business Bank Recent SBA Loans
Decatur Bank & Trust  
First Bank of Berne - Decatur Banking Center  
First Merchants Bank 1
Midwest America Federal Credit Union  

Lenders for Decatur Businesses

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

Small Business Bank Recent SBA Loans
1st Source Bank
South Bend, IN
2
Capital One
Mclean, VA
3
Community So. Bank D.b.a Commun
Parsons, TN
1
National City Bank
Cleveland, OH
2
National City Bank
Indianapolis, IN
1
Small Business Loan Source LLC
Houston, TX
1
Wells Fargo Bank
Sioux Falls, SD
2

Business Loan Advice for Decatur Businesses

Prior to reaching out to banks to get a bank loan, you will need to determine exactly what size loan you will be asking for.

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 essential. If the capital is to for an existing business, you should also have financial statements covering the last three years. In addition, you should itemize 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 secure the business with your personal assets, such as stocks and bonds that you might own or life insurance policies. 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

Gaebler.com is a site that is all about providing advice to entrepreneurs, and we have a lot of resources related to to Raising Money. For example, we recommend you read Business Incubators.

More Business Loan Info for Indiana
Get a Business Loan in Danville
Get a Business Loan in Dyer

Browse All Business Loan Sources for Indiana