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March 29, 2024  
 
 
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Small Business Lenders in Douglas, Michigan

 
Loan Census SBA Loan Info

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

Banks that Lend to Douglas Businesses

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

Small Business Bank Recent SBA Loans
Chemical Bank
Benton Harbor, MI
1
The Huntington National Bank
Columbus, OH
2
Wells Fargo Bank
San Jose, CA
1

Business Loan Advice for Douglas Businesses

Before contacting banks to get a bank 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 how you intend to to pay the loan back to the bank.

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 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, the bank may ask you to to secure the business with your personal assets, such as the equity in your home. 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 the banks in our list participate in the financial assistance programs available through the SBA. 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

If you are serious about Raising Money, you need to get up to speed on the subject. If you haven't read it already, we recommend you review 504 Loans.

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