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

Small Business Lenders in Demotte, Indiana

 
Loan Census SBA Loan Info

Getting a business loan in Demotte, Indiana 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 Demotte, Indiana, we've assembled a list of local small business banks that you should contact.

Local Demotte Lenders

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

Small Business Bank Recent SBA Loans
Demotte State Bank  

Lenders for Demotte Businesses

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

Small Business Bank Recent SBA Loans
Centier Bank
Crown Point, IN
1
Centier Bank
Whiting, IN
1
Harris National Association
Hammond, IN
1
Keybank National Association
Cleveland, OH
1
Lafayette Bank & Trust Natl
Rensselaer, IN
1
National City Bank
Cleveland, OH
1
National City Bank
Indianapolis, IN
1

Business Loan Advice for Demotte Businesses

Prior to contacting banks for a loan, you will need to develop the specifics of your loan request.

You need to be able to clearly introduce your business to the banker, explain how much you want to borrow, walk the banker through the planned use of proceeds, and show how you intend to to pay the money back to the bank.

Being able to present a well-written business plan is essential. If the money is to for a company that is already doing 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 cash flow from the business does not meet your projections.

If the business has few assets, you will likely be asked to to guarantee the loan with your personal assets, such as your individual retirement account or pension plan. The banks will check on your personal credit history 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 are SBA lenders. Before you sit down to talk with a small business banker, 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

Invest the time to learn as much as you can about Raising Money. To get started, we recommend you read Business Line of Credit.

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